Ferrari confirmed today that it will be unveiling an ‘extreme V12 sports car’ at the 2012 Geneva Motor Show. The new supercars is expected to be the successor to the very popular 599 GTB Fiorano. The announcement came during Ferrari’s financial report for 2011.

Ferrari said that it reported record vehicle sales and revenue last year and that it continues to see ‘significant rates of grown’ in the United States and China.

In 2011, Ferrari sold a record 7,195 units, up 9.5 percent form 2010. Revenue was up more than 17 percent to $2.95 billion.

“We now have a complete range of models which will be joined in a few days time at the Geneva show by a new 12-cylinder,” said Chairman Luca di Montezemolo. “A revolutionary new car that delivers extreme performance and unprecedented power output.”

- By: Omar Rana