Personally, I love it.
The general thought is that Ferrari will love it too. Those guys swoop down like vultures... watch out. You might have just bought them a new domain.
That aside, I think it's a great name with a not-so-great extension but could still be worth something to you (right up until the guys in Italian Suits show up with their C&D).
Despite my own advice, I own several Ferrari names myself. Lamborghini too.
The TWO I'm getting away with, because they are general car dealerships, are OrangeCountyFerrari.com and OrangeCountyLamborghini.com
Beyond that twist, I think you have a TM issue for sure.
Best of luck
GoPC