Following the success of the 250 S in the Mille Miglia, Ferrari showed a more conventional chassis for the new 250 engine at the 1952 Paris Motor Show. Pinin Farina then created coupé bodywork which had a small grille, compact tail and panoramic rear window, and the new car was launched as the 250 MM (for Mille Miglia) at the 1953 Geneva Motor Show. Carrozzeria Vignale's open barchetta version was also an innovative design whose recessed headlights and side vents became a Ferrari staple for the 1950s.
The 250 MM's wheelbase was longer than the 250 S at 2,420 mm (95.3 in), with the coupé 50 kg (110 lb) heavier than the 850 kg (1,874 lb) barchetta. The V12 engine's dry sump was omitted from the production car, and the transmission was reduced by one gear. Power was increased to 240 PS (177 kW; 237 hp). The four-cylinder 625 TF and 735 S replaced the V12-powered 250 MM later in 1953.
The 250 MM's race debut was at the 1953 Giro di Sicilia with privateer Paulo Marzotto. A Carrozzeria Morelli-bodied 250 MM barchetta driven by Clemente Biondetti came fourth in the 1954 Mille Miglia.