As already indicated with reference to the 625 F1 version, it was the first car with the new in-line four-cylinder engine designed by Lampredi, whilst the second was the 500 F2. Given the circumstances, it may be assumed that the design was set out to be equally valid for both cylinder capacities, and after the first test in Bari the two litre version for the 1952 Formula 2 was tried out at the Modena GP on 23 September 1951, won by Alberto Ascari.

The win was a good omen, since the car dominated the two F2 seasons and Ascari took the two first world titles for himself and for Ferrari with a lead that was not often matched until the seasons at the start of the new millennium (2000-2001).500

Type front, longitudinal in-line four
Bore/stroke 90 x 78 mm
Unitary displacement 496.21 cc
Total displacement 1984.85 cc
Compression ratio 13 : 1
Maximum power 136 kW (185 hp) at 7500 rpm
Power per litre 93 hp/l
Maximum torque -
Valve actuation twin overhead camshafts per bank, two valves per cylinder
Fuel feed two Weber 50 DCO carburettors
Ignition two spark plugs per cylinder, two magnetos
Lubrication dry sump
Clutch multi-plate
Frame tubular steel
Front suspension independent, unequal-length wishbones, lower transverse leaf spring, hydraulic shock absorbers
Rear suspension de Dion, twin radius arms, transverse leaf spring, hydraulic shock absorbers
Brakes drums
Transmission 4-speed + reverse
Steering worm and sector
Fuel tank capacity 150 litres
Front tyres 5.25 x 16
Rear tyres 6.50 x 16