The P300 was a direct answer to Ferrari’s new 308 GT4, the successor to the famous Dino. The original P250 needed changing; the price was too high and the workmanship wasn’t up to the desired level. The Urraco should have been a big success, but with poor build quality and limp-wristed performance in P250 form it failed to take off. The 265bhp P300 put right the latter problem, pushing the Urraco to over 160mph, but the former was a more deep-seated issue that failed to get resolved. A 2-litre tax break P200 model was sold in Italy, and it’s not uncommon to find one for sale now.
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Information from Octane Magazine.