The various models in the P series were developed over a period of four years beginning in 1964. Two entirely new cars, the 275 P and P2 were specially designed Ferraris with the specific goal of capturing the World Championship, and more importantly to beat Ford. Both cars were mid-engined, open-topped cars
The 275 P was powered by a 3.3-liter powerplant; a 4 and 4.4 liter version were also used. These mid-engined, open-topped cars were comprised of many of the same components as the road-going versions. The first upgrades came in 1965 with both the 275 P2 and 330 P2, featuring lower and lighter chassis and more aerodynamic body. The engines were revamped and improved versions of the previous 275 and 330 V12. The V12 now had four camshafts and over 350 hp and 410 hp, respectively. The main difference between the 275 P2 and 330 P2 was the larger engine displacement in the 330 P2.
In 1965, a 275 P2 won the 1000 km of Monza and the Targa Florio. The P2 cars were replaced by the P3 for 1966.