In 1993, in the same time with the coupe version, Ferrari unveiled the 348 GTS - a model that replaced the 348 TS. Like its coupe brother, the 348 GTS remained into production for only one year.
This two-seater convertible offered the same specifications as the 348 GTB, with the choice of open or closed-top motoring and a layout that had by now become a Ferrari classic: as on the outgoing TS, the hard top was stowed away in the space behind the seats.
The GTS retained the stiff, stress-bearing chassis (featuring various section tubular front and rear sub-frames) of the coupe version while the styling, which remained unmistakably Ferrari, married elegance with excellent aerodynamics.
The 348 GTS was distinguished by were body color-coded sills and chromed Cavallino Rampante’s mounted between the rear light clusters ( this decorative item having always been finished in matte black on first series cars). It also had a rear track that was now one inch wider due to addition of spacers and suspension geometry that was updated to greatly enhance its super-car-level handling, body control and ride.
Under the hood there was a 3,4 liter V8 engine, with a bore and stroke of 85mm x 75mm, with spark plugs between the camshafts, fitted with a Bosch Motronic M2.7 combined fuel injection and ignition system.
Power was transmitted from the flywheel to the rear wheels through the clutch, gears, final drive and constant velocity joints. The new transmission was mounted across the rear of the engine in the style of pre-turbo Formula 1 racing Ferraris. The clutch sat at the rear of the drivetrain. The new configuration sited the entire drivetrain four inches lower in the chassis than had the previous model.
The engine delivered a total of 320 hp at 7200 rpm and a peak torque of 324 Nm at 5000 rpm. The 348 GTB sprinted from 0 to 60 mph in 5,4 seconds and could hit a top speed of 173 mph.