Scuderia Ferrari chose to use their time off wisely by joining little kids across America and setting up the 2008 Scuderia Soap Box Trophy. There is no better way to spend Memorial Day weekend then to play in a sport that kids love.

The first round of the tournament began on Sunday oddly enough around the same time that the Monaco Grand Prix was taking place. The cars being used were definitely different from what we are used to.

The winner of the first round was Zocca Bologna – which was held at the Imola Ferrari owned track. He was racing in his XFX soap box racer. The second round will be held in Milan this weekend.

A source stated this week that Mattel is working on creating a 1:18th scale model of a new Hot Wheels Ferrari California. We were hoping to see a Dino in the works – but maybe that will come later.

The new car will be debuted at the Paris Motor Show in October and is set to be released not long after that. Sounds like it would make a great Christmas gift for any Ferrari enthusiast.

Ferrari has released the first rendering of the new spec racer that they are designing for the A1GP World Cup of Motorsport. The new racer has been designed according to the Scuderia Ferrari F2004 grand prix – which we think is one of the best examples that they could have used.

As we all know the F2004 has won 15 out of 18 races during its many races in the Formula One season making it a winning car. That and the fact that it won both of the world championships makes it one of the fastest and more successful cars in the history of Formula One racing.