This isn’t the first time we’ve heard about a replacement for the Ferrari 599 Fiorano, but this is the first time we can offer more details about the new sports car. For starters, expect it to make its official at the 2012 Geneva Motor Show in March with sales beginning later in the year. The 599 replacement will be built on an all-new chassis and will borrow design elements from both the 2012 Ferrari FF and the Ferrari California. The model will get modified bumpers and new headlamps, a modified bonnet, and a new exhaust system with tips that sit higher than on the current 599. Fans of true sportscars can also breathe easier knowing that the replacement 599 will not be a hybrid model. The new GT will be powered by a 6.3 liter V12 engine that will deliver more than 700 HP. With this output, the GT will be more powerful than both the 599 (620 HP) and the current FF (660 HP), but more importantly, it will beat out the Lamborghini Aventador (700 HP 6.5 liter V12 engine). The engine will send its power to the rear wheels via a seven-speed dual-clutch transmission with an F1 style electronic differential.