A Ferrari for Everyman (or Woman)

The Lamborghini Countach may have had the dorm room poster market, but the 308 got screen time with "Magnum, P.I."

The great automotive die-off of the 1970s claimed muscle cars, full-sized American convertibles, and traditional British sports cars. Italian exotics came perilously close to being on that list. In addition to U.S. emission and bumper regulations, in Europe escalating fuel prices and shortages, along with punitive taxes, were threatening Maserati, Lamborghini, and Ferrari. Even the ultra-rich were affected.

Since it seemed a very real possibility there would never again be a U.S.-legal 12-cylinder Ferrari, Enzo relented on his dictate that "a Ferrari is a 12-cylinder car," and the 8-cylinder cars that replaced the late and lamented 246 Dino became Ferraris rather than Dinos.

The Bertone-designed 308 GT4 was the first to show up in the U.S. (albeit originally badged as a Dino). A vastly underrated car, it was the most elegant take on the wedge theme popular in the 1970s, and it makes one wonder why Bertone hasn't been able to break Pininfarina's stranglehold on Ferrari as its design house of choice.

Handsome as the GT4 was, 2+2 Ferraris rarely get the respect of the dué posti cars, and the GT4 was completely overshadowed by the 308 GTB and GTS, which, along with the Lamborghini Countach, became the iconic Italian exotics of the era. The Countach may have had the dorm room poster market, but the 308 got the screen time both in "Magnum, P.I." and "National Lampoon's Vacation."

The early 308s were quite special

Launched at the 1975 Paris Auto Show, the 308 GTB was a relief to aggrieved 246 Dino fans who shunned the GT4's sharp creases in favor of the Dino's graceful curves. The 1975-77 cars were quite special, being both fiberglass (a first for a production Ferrari) and dry-sumped. All 308s were berlinettas until the bodies were switched to steel in the summer of 1977. Strangely, the berlinettas retained the dry-sump lubrication system for another four years, while targas used wet-sump systems from the start.

Feelings are mixed about U.S.-spec carbureted cars. Performance wasn't bad, but like most cars of the era, drivability wasn't great. Warm-up periods were long and air-pump-equipped cars backfired occasionally and suffered from the usual lean surging. The switch to Bosch K-Jetronic injection (denoted by an "i" for iniezione) cured drivability problems, but performance was missing, along with much of the character and sound of the carbureted cars.

The GTBi and GTSi also came with two other curses: Some cars built in 1980 and 1981 suffered from horrendous oil consumption. Many had engines replaced or overhauled under warranty. Be suspicious of a car from these years with no documents.

The second curse came in the form of Michelin TRX tires. Ferrari, like BMW and Peugeot, had bought into the Systéme TRX, which replaced the standard 14″ Cromodora wheels with metric 390 mm wheels. Tire technology quickly overtook the TRX and today, they're only available from classic car tire suppliers like Coker Tire (www.cokertire.com).

Most owners have replaced the TRX wheels with 14″ Cromodoras from earlier cars or 16″ wheels from later cars. In any event, 308s were built during an era when tires actually had sidewalls, and the tall sidewalls of the factory tires contributed to the car's very acceptable ride.

Lack of performance addressed in 1982

By 1982, the 308's lack of performance was addressed with a four-valve, "Quattrovalvole" cylinder head. In the U.S., injected cars now surpassed the performance of the carbureted cars, although the induction noise of the Webers was still missed. Still, the well-controlled ride, precise steering, and free-revving 4-cam V8s were compelling.

The 308 continued the trend of balance over ultimate performance that started with the 246 Dino. And indeed, the performance envelope was closer to that car than the Daytona. Not necessarily a bad thing, particularly in the U.S., where the Daytona's 172 mph top speed was largely academic. What mattered more was the 308's unfinicky nature and its uncanny ability to tolerate lugging around town without plug fouling and to pull cleanly from 1,500 rpm in fifth all the way to 7,700 rpm.

As a semi-daily driver, the 308 is not a bad proposition. Certainly parts and service are not inexpensive, but 308s have proven durable and not particularly trouble-prone. Shawn Dougan, who works for the St. Louis, Missouri, dealer Hyman, Ltd. responded to the type of ad that most of us would ignore- a cheap, high-mileage 308.

Dougan bought his 75,000-mile Berlinetta a year ago for $14,000. Rather than being discouraged by the high miles, Dougan took it as a sign that the car had been sorted and used. Cosmetically, the car was quite decent.

In the last year, he's driven the car about 3,000 miles. As a precaution, he replaced the belts and tensioners. Other than a clutch and a coil (the bill for both came to just $1,200), he's done nothing. Happily, he found that even the a/c worked after a charge.

Grossly rusty 308s are rare, although bubbly door skins are not uncommon, and factory metallic paints were fragile. Weak second-gear synchros and worn-out interiors are also common. Ferrari leather of the time dried out quickly, and ratty 308s are almost always seen with brittle, cracked, redyed seats.

As Dougan's experience indicated, service needs generally center around replacing the water pump and belts and tensioners. The exact interval for a belt service has been hotly debated of late, although most sources recommend an interval of three to five years. The consequences of a belt break or tooth shear are too horrible to contemplate, as the 3-liter V8 is an interference design (the pistons will hit most or all of the valves in a failure).

From a collectibility standpoint, beyond the fiberglass cars, which generally do quite well at auction, there is little reason to expect any major shifts in the 308 market. Although berlinettas are marginally prettier, the targas bring a bit more money. Still, supply is good, and as yet, "Magnum, P.I." fans now in their late 30s and early 40s aren't driving the 308 market to new heights.

While their styling is somewhere between dated and classic, and their performance can be bested by a host of today's family cars, nonetheless there will always be something special about having a Ferrari in your driveway. While I can't recommend these cars as sterling investments, if you buy a proper one, you should have both driving and emotional pleasure and not lose your shirt when it's time to move on.