Perhaps more than any other automaker, Ferrari has a tradition of building limited-production supercars that push the envelope of performance and design, while enriching the manufacturer’s cachet.

From the competition-intended 288 GTO of the mid-1980s, through the 40th anniversary F40 model, the F50, and the Enzo, these cars have served heritage commemorative purposes while reinforcing Maranello’s identity as a boutique company that builds nothing less than the finest money can buy.

By the early 2010s this notion was challenged by a new breed of hybrid-electric hypercars being produced by other manufacturers, most notably the Porsche 918 Spyder and the McLaren P1.

Relying on the spirit of competition that had served it so well on the track for 65 years, Ferrari duly met this challenge with yet another limited-production supercar, one that would dwarf its predecessors in power, technology, and scope.

Unveiled at the 2013 Geneva Salon, the new model was simply called LaFerrari—litera...