The Prancing Horse's naturally aspirated 6,262cc V12 emerged as winner under two categories - Best Performance Engine and Above 4-litre Engine - which were previously won in 2011 and 2012 by Ferrari's 4.5-litre V8 housed within the 458 Italia and its convertible counterpart. The awards are recognised as the industry's top accolade for the world's best powertrain technology, judged by an international panel consisting 86 motoring journalists from 35 nations.

The V12 is good for 740bhp and lies under the bonnet of the critically acclaimed F12berlinetta. In the face of stiff competition, the Ferrari V12 was lauded as a masterpiece of engineering, combining blistering performance with surprising efficiency.

Jean Jacques His, head of Ferrari's powertrain department, commented, "Winning both these categories for the third year running is a fantastic result for everyone at Ferrari. It is testimony to the efforts of a relatively small group of engineers who constantly strive to achieve ambitious technical objectives. Three figures suffice to demonstrate the results of development - 120bhp more and 30 percent lower emissions than the previous V12 that equipped the 599 GTB Fiorano, along with a 30 percent increase in longitudinal acceleration."

The Co-Chairman of the International Engine of the Year Awards, Dean Slavnich, commented, "The V12 takes over from the V8 to make it six International Engine of the Year Award wins for Ferrari in three years, a brilliant feat."

The International Engine of the Year title follows several other recent awards, from BBC Top Gear Magazine's Supercar of the Year, Auto Bild's 'Design Award', the Golden Steering Wheel award from Auto Bild and Bild Am Sonntag, the first time a Ferrari has ever taken this leading German industry prize among other accolades.