Video: Footage after £300k Ferrari smashes into Mayfair bollard and lamp post

A £300k Ferrari crashed into a bollard on one of Britain's most affluent streets on New Year's Day.

The car was travelling on Park Lane, Mayfair, when it spun off the road and hit a bollard. It ended up backwards and hit a lamp post at around 7pm.

The Qatari-registered Ferrari 296 is worth in the region of £300k.

With the front and rear of the car severely damaged - the cost of repairs is estimated to be about £100k.

The Met Police said the vehicle collided with the bollard and that no serious injuries were reported.

Ferrari launched the 296GTB in 2022. The Italian firm's website says: "The 296 GTB, an evolution of Ferrari’s mid-rear-engined two-seater sports berlinetta concept, represents a revolution for the Maranello-based company as it introduces the new 120° V6 engine coupled with a plug-in (PHEV) electric motor capable of delivering up to 830 cv.

"The car thus defines the idea of driving fun to provide pure excitement not only when pursuing maximum performance but also in everyday driving."