In the mid of 1980s turbocharged F1 cars with astonishing horsepower dominated F1 world. In order to improve reliability of the cars FIA planned to introduce new regulations including banning turbos in favor of 8-cylinder naturally aspirated engines. Ferrari was very unhappy with these plans, and Enzo Ferrari announced that Scuderia would abandon F1 to compete in CART if FIA refused to negotiate. Commendatore’s approach was very serious, the team tested March 85C Indycar at Fiorano with Bobby Rahal in fall 1985, and in 1986 top-secret Ferrari project led by young Austrian designer Gustav Brunner designed and built their own Indycar, the F637. The upper body of the car was made of aluminium, mechanically bonded and glued to the lower carbon frame. The Type 034 engine was a turbocharged 32-valve, 90-degree 2.65-litre V8, as per the CART regulations. By September 1986 the car was ready, and Ferrari current F1 driver Michele Alboreto put it on track at Fiorano setting laps times in the new machine comparative to those that he managed in the March nine months previously. Shortly after Ferrari unveiled their Indycar machine, FIA announced that F1 would return to 3.5 litre normally aspirated engines for the 1989 season. During a meeting with FIA officials at Maranello, the deal was struck that V12 engines would be allowed in F1, under the condition that Ferrari wouldn’t further pursue its Indycar plans, and in the process bringing an end to Project 637 once and for all.
| Season | Series | Event |
| 1986 | CART | Fiorano tests |
| Driver | No. | Entrant |
| Michele Alboreto | Scuderia Ferrari SpA SEFAC | |
| Chassis | Engine | Car Name |
| Ferrari | Ferrari | Ferrari |
| Scale | Manufacturer | Collection |
| 1:43 | Tron | |
| Cat. No. | Quality | Rarity |
| P314 | 
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