The Pontiac That Hid a Ferrari V12: The Pegasus Story

When you think Pontiac, you picture the GTO, the Firebird, or the Trans Am, big, loud, V8-powered American muscle. But hidden in GM’s design archives is a one-off oddity that broke every rule. Built in the early 1970s, the 1971 Pontiac Pegasus V12 Concept started life as a Firebird but ended up with a Ferrari Colombo V12 under the hood.

This wasn’t just a mash-up; it was a personal project from GM’s chief designer, Bill Mitchell, who wanted to see what would happen if American muscle met Italian refinement.

Mitchell, who led GM’s design from 1958 to 1977, had a soft spot for European exotics. 4-liter, 60-degree V12 making 352 hp at 7,500 rpm. The exterior was reworked with Ferrari-inspired grille vents, fender flares, and a wraparound rear window. Inside, a Ferrari steering wheel and Veglia gauges completed the look.

Early versions used a Turbo-Hydramatic 400 automatic, but the team soon swapped in the Ferrari’s original five-speed manual transaxle, transforming the car into a true driver’s machine.

The Pegasus was never meant for production. It was Mitchell’s personal statement, a design exercise that let him push boundaries without corporate oversight. After retiring in 1977, he took the car with him, a rare privilege, and drove it regularly, even crashing it at Road America.

Following his death in 1988, the Pegasus returned to GM’s Heritage Collection in Michigan. Today, it’s a museum piece, a quiet reminder of a time when a visionary dared to pair a Ferrari V12 with a Pontiac badge.