US$700,000 Ferrari destroyed as it bursts into flames
The Ferrari on fire on Beiheng Passage towards the Bund.
The remains of the Ferrari after the fire.
A yellow Ferrari caught fire while driving east on Beiheng Passage in Shanghai towards the Bund on June 29, destroying much of the rear half of the car.
According to Shanghai Television, the Ferrari F8 Spider belonged to a man surnamed Jiang, who had lent it to a friend. The accident occurred while a hired driver was returning the car.
After questioning the driver, Jiang discovered that first gear in manual mode was used throughout the trip.
"This car has both manual and automatic modes. The driver probably didn't switch to automatic and drove in first gear at 50 to 60 kilometers per hour, causing the engine to overheat due to prolonged high RPM," he said.
He speculated that the accident was initially caused by a burst water tank inside the car, leading to a coolant leak and that no cooling measures were taken afterward.
The fire department said a report on the cause of the fire will take a month.
A screenshot from Jiang's video posted on Douyin on June 30.
Jiang posted a video on Douyin saying: "My US$700,000 is gone in an instant." He said he bought the Ferrari in September 2022 for around US$700,000, but had insurance coverage for just US$280,000, not enough to cover his loss.
According to Shanghai Television, the driver was from the Anxun Driving Service. Jiang plans to sue the company.
A staff member at Anxun said: "We are aware of the incident, are following procedures, and will contact the owner soon."
