The traditional start of season press conference held in February 1962 saw the presentation of a whole series of rear-engined sports racing models with the result that the debut of the new 250 GT berlinetta, which later became the legendary 250 GTO, passed almost unnoticed. The sports models included the 196 SP which did not have a Dino engine, but was effectively a half of the 330’s V12 engine, from which it retained the bore and stroke. The 196 SP boasted the twin front air intakes first introduced on the single-seaters in 1961.

| Type | rear, longitudinal 60° V6 |
| Bore/stroke | 77 x 71 mm |
| Unitary displacement | 330.62 cc |
| Total displacement | 1983.72 cc |
| Compression ratio | 9.8 : 1 |
| Maximum power | 154 kW (210 hp) at 7500 rpm |
| Power per litre | 106 hp/l |
| Maximum torque | - |
| Valve actuation | single overhead camshafts per bank, two valves per cylinder |
| Fuel feed | three Weber 42 DCN carburettors |
| Ignition | single spark plugs per cylinder, two coils |
| Lubrication | dry sump |
| Clutch | multi-plate |
| Frame | tubular steel |
| Front suspension | independent, unequal-length wishbones, coil springs, telescopic shock absorbers, anti-roll bar |
| Rear suspension | independent, unequal-length wishbones, coil springs, telescopic shock absorbers |
| Brakes | discs |
| Transmission | 5-speed + reverse |
| Steering | rack-and-pinion |
| Fuel tank | - |
| Front tyres | 5.25 x 15 |
| Rear tyres | 6.50 x 15 |
| Type | two-seater spider |
| Length | 4060 mm |
| Width | 1480 mm |
| Height | 970 mm |
| Wheelbase | 2320 mm |
| Front track | 1200 mm |
| Rear track | 1200 mm |
| Weight | 600 kg (dry) |
| Top speed | 240 km/h |
| Acceleration 0-100 km/h | - |
| 0-400 m | - |
| 0-1000 m | - |