The new version of Ferrari F2 car, the 553, was the interim car designed by Aurelio Lampredi in 1953 with new 1954 Formula 1 regulations in mind. The engine was completely redesigned, with a shorter stroke and other modifications and, thanks to complete interchangeability, could also be used in the F1 version. New tubular frame chassis featured of the distinctive rounded bodywork and air-intake, because of which the car was nicknamed Squalo, meaning Shark in Italian. The new car was first raced at Monza in 1953 Italian Grand Prix. In 1954 the 553 was fitted with the new 2.5 liters engine, but car performed not better than the 625. The major problems were poor handling and tendency to engine overheating. So, 553 was used in the 1954 season only occasionally. Ferraris were able to win races only if their rivals from Mercedes-Benz would face some problems. The 553 achieved its only win in the final Grand Prix of the season, at Pedralbes street circuit in Barcelona, in hands of Mike Hawthorn.
| Season | Series | Event |
| 1954 | F1WC | Spanish GP |
| Driver | No. | Entrant |
| Mike Hawthorn | 38 | Scuderia Ferrari |
| Scale | Manufacturer | Collection |
| 1:43 | IXO | Fabbri Ferrari F1 Collection |
| Cat. No. | Quality | Rarity |
| No. 34 | 
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