Many of you have been following the 2011 Targa Newfoundland here on Autoblog, what with our own Zach Bowman competing. Perhaps you were surprised to find out that rare supercars like a Maserati MC12 and a Ferrari Enzo had entered the demanding race.

Unfortunately, the Enzo has bowed out early after taking a turn for the worse when it lost control and dove into the Atlantic Ocean off a coastal road. The Enzo was piloted (and owned) by Zahir Rana, who also owns ZR Auto exotic car dealership. Ferrari produced 400 Enzos, and of them, Rana's was one of the fastest that road-legal after being modified to similar specifications as an FXX. It was tuned in Germany to deliver a bewildering 850 horsepower and held a 0-60 mph time of 2.8 seconds.

We were able to get a few quick glimpses of the Enzo with Rana and his navigator, Roland Linder, heading for the ocean thanks to Kia Canada. Kia is also entered in the race and was waiting in anticipation for their Forte Koup to come around the same bend in the road.

Rana has posted a video, which you can find after the jump, that clearly states his disappointment, but also his reasoning and reflection on what happened. He definitely has the right mindset, explaining how things like this happen in racing and he is lucky that he and his teammate were left unscathed in the incident. He also makes a point to sadly say, "It's only a car, it's not a big deal."

We agree wholeheartedly with Rana, but by the same token, having the incident happen to a car currently valued at $1.5 million is like throwing salt on the wound of enthusiasts and car insurance adjusters everywhere.

Follow the jump
to see the devastating video of Rana's Enzo coming down a hill and landing in the ocean, along with a walk-around video of the car before the Targa Newfoundland began.