The developer has yet to be announced, but various sources are speculating that it will be developed by Slightly Mad Studios, which developed Need for Speed: Shift. The developer acquired Blimey! Games, who had been working on a Ferrari title themselves. In August, Slightly Mad had teased, "On the Ferrari game, expect some interesting news very soon." No information on Test Drive: Ferrari has been revealed as of yet.
The lastest Test Drive title was Feburary's Test Drive: Unlimited 2, which was published by Atari. The game received a 7.5/10 review from Strategy Informer.