The Ferrari 250 GTO was produced from 1962 to 1964 for homologation into the FIA's Group 3 Grand Touring Car category. GTO stands for "Gran Turismo Omologato", Italian for "Homologated Grand Tourer". When new, the GTO sold for $18,500 in the United States, and buyers had to be personally approved by Enzo Ferrari and his dealer for North America, Luigi Chinetti. A total of 36 were produced, including 33 cars with 1962-63 bodywork (Series I) and three with 1964 (Series II) bodywork similar to the Ferrari 250 LM.