Ferrari announced the Enzo at the 2002 Paris Motor Show with an initial production target of 399 units. The company sent purchase invitations exclusively to existing clients who had previously bought the F40 and F50, maintaining the tradition of reserving its halo cars for loyal customers. In 2004 a 400th production car was built and donated to the Vatican for charity; it was subsequently auctioned by Sotheby's for US$1.1 million. Total production reached 398 units sold to customers. Three development mules — designated M1, M2, and M3 — were constructed using the bodywork of the 348, a model that had been succeeded by the F355 and 360 Modena by the time the mules were assembled. The third mule was offered at auction alongside the 400th car in June 2005, selling for €195,500.
The Enzo was designed by Ken Okuyama, then head of design at Pininfarina. Its aggressive aerodynamic bodywork incorporated front underbody flaps, a small adjustable rear spoiler, and a rear diffuser working in concert to generate 343 kg of downforce at 200 km/h, 775 kg at 300 km/h, declining to 585 kg at top speed. Technologies from Formula One, including a carbon-fibre body and carbon fibre-reinforced silicon carbide ceramic composite disc brakes, were incorporated alongside active aerodynamics not permitted in Grand Prix racing.
The Enzo's powerplant is the F140B naturally aspirated 65-degree V12 engine, mounted longitudinally in a rear mid-engine layout with a 44/56 front-to-rear weight distribution. Displacing 5,998.80 cc, it features dual overhead camshafts, four valves per cylinder, variable valve timing, and Bosch Motronic ME7 fuel injection. Output is 660 PS (485 kW; 651 hp) at 7,800 rpm with 657 Nm of torque at 5,500 rpm; the redline sits at 8,200 rpm. The F140B was the first engine of a new generation for Ferrari.
The transmission is Ferrari's F1-style automated manual unit, built by Graziano Trasmissioni, using paddle shifters to operate an electrohydraulic clutch and shifting mechanism with LED lights on the steering wheel indicating optimal change points. Shift time is 150 milliseconds. The Enzo uses four-wheel independent suspension with push-rod-actuated shock absorbers adjustable from the cabin, complemented by anti-roll bars front and rear. Brakes are 15-inch Brembo ceramic composite discs. Wheels are 19-inch units held by a single lug nut, fitted with Bridgestone Potenza Scuderia RE050A tyres.
Published figures show a 0–97 km/h sprint of 3.14 seconds and 0–161 km/h in 6.6 seconds, with a quarter-mile time of approximately 11 seconds. Lateral grip on the skidpad reaches 1.05g and top speed has been recorded as high as 355 km/h. Evo magazine tested an Enzo on the Nurburgring Nordschleife and recorded a 7:25.21 lap time, noting the test car had a broken electronic damper at the time. The Bedford Autodrome West circuit test produced a 1:21.3 lap, which was 1.1 seconds slower than the Porsche Carrera GT but faster than the Litchfield Type-25.
Sports Car International named the Enzo third on their list of Top Sports Cars of the 2000s in 2004. Motor Trend Classic placed it fourth among the ten greatest Ferraris of all time. Bloomberg Businessweek took a contrarian view, listing the Enzo among the fifty ugliest cars of the past fifty years, citing its V-shaped hood, scooped-out doors, and bulbous windshield as excessive.
Before the car's public unveiling at the Paris Motor Show, Ferrari flew the show car to the United States to be filmed for the motion picture Charlie's Angels: Full Throttle, where actress Demi Moore drove it on a beach. The car was then returned to France for the Motor Show.
Ferrari leveraged the Enzo's technology base for several subsequent programmes. The Ferrari FXX, introduced in 2005, used a highly tuned 6.3-litre version of the Enzo's engine producing approximately 800 PS and was made available to a small group of selected clients on a track-access basis, with Ferrari retaining the cars and arranging circuit sessions. The FXX programme continued through 2009 with the Evoluzione kit, which raised output to 860 PS at 9,500 rpm and cut shift time to 60 milliseconds per gear change. The top speed under the Evoluzione kit reached 365 km/h.
The Ferrari P4/5 by Pininfarina was built on the last unregistered US-specification Enzo chassis for American collector James Glickenhaus as a one-off homage to Ferrari's 1960s sports-racing prototypes including the 330 P3/4, 512 S, and 312 P. After the car was unveiled at the 2006 Pebble Beach Concours d'Elegance, Ferrari president Luca di Montezemolo agreed with Andrea Pininfarina and Glickenhaus that it should carry official Ferrari badging.
The Maserati MC12, a derivative developed by Maserati while under Ferrari's control, shares the Enzo's engine, chassis, and gearbox. Built in 50 units for FIA GT Championship homologation — the minimum road-car quantity required for racing entry — the MC12 has a lower top speed of 330 km/h due to engine tuning differences and a lower drag coefficient, but has lapped race circuits faster than the Enzo, attributed to its Pirelli P-Zero Corsa tyres generating greater grip than the Enzo's Bridgestone rubber.