Ferrari took the wraps off its 2006 V8 challenger at the Mugello circuit in Italy Tuesday.

The creator of the Ferrari 248 F1, Aldo Costa, said the new car features radical mechanical and aerodynamic changes, although, as with yesterday's unveiling of the new McLaren, he hastened to point out that the aero package would undergo significant development before the first race of the season in Bahrain.

More after the jump!

[Thanks for the tip, dinges!] When asked about the team's continued reliance on Bridgestone tires, Ross Brawn indicated that Ferrari were in a much better position than last year, aided by the rules change to allow tire changes during pit stops (which places less emphasis on long-run performance) and by the greater number of Bridgestone teams this year, which should speed tire development. When asked to compare the V8 car to last year's V10, Brawn said he expected lap times to be one or two seconds slower, even with better tires.

Also worthy of note is the return of beverage company Martini and Rossi to Formula 1. The company announced their sponsorship of Ferrari F1 yesterday, on the heels of an earlier announcement by computer maker Acer.

[Source: Ferrari]

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