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The whole idea of a grand touring car came out of Europe in the late '40s or early '50s. It is supposed to be a car that is capable of taking two people and their luggage on a trip, while allowing "spirited" driving. The Ferrari GTO is a high-end example of this concept. The "O" stands for omolagato, which is Italian for homologated. In order for Ferrari to race the car, a certain number had to be built so that it could be homologated for racing. Much like Nascar did when Ford developed the Talladega and Mercury Cyclone. A certain number must be available to the public. Of course, we all know that rule has been broken many times.