The 1997 Ferrari 550 Maranello has 4 recalls, the most serious being a fuel line leak where the fittings meet the flexible hose, which can allow fuel to escape near hot engine components and create a fire risk.
The magnesium wheels carry a separate concern: the threaded inserts that hold the wheel bolts in place can develop cracks, which reduces the clamping force holding each wheel to the hub. As the inserts weaken, the wheel can shift slightly under load, affecting handling and raising the risk of a crash. On the steering side, the power steering fluid can overheat and damage the internal seals in both the steering box and pump, causing the steering to stiffen noticeably and require more effort to turn, particularly at lower speeds or during tight maneuvers.