Heard the one about the horsepower race being dead?

Around four years ago it was a theme that was all the rage among supercar manufacturers staring down the barrels of emissions regulations. Instead, they started talking about efficiency and technology being key.

And now, here we are at the Geneva motor show, to see the new Ferrari F12 Berlinetta, the fastest ever Ferrari road car, with 730bhp, and a 0-62mph time in just 3.1sec and 0-124mph time in just 8.5sec.

So why the change in heart?

"We have simply moved on," shrugged Ferrari CEO Amedeo Felisa when I asked him. "We set our emissions reductions commitments five or six years ago and we are keeping them. But our engineers have found ways of achieving that and raising power, so we have the perfect solution."