This was a touring-type version of the 195 S, with a more powerful yet more flexible engine which made driving easier for clients unused to extreme performance.

Touring, Ghia and Ghia Aigle (the first foreign coachworks to take an active interest in a Ferrari) created a number of different versions, some of which proved to be quite successful in GT racing.

The most popular versions of this model, however, were those by Vignale, who produced some stunning personalised coupés for the most exclusive clientele.

Like the 166 Inter series, the 195 variant featured independent front suspension via a transverse leaf spring, with a rigid axle and semi-elliptic leaf springs at the rear, and Houdaille lever shock absorbers all round. There was a concurrent 195 Sport model, which was built in the even chassis number competition car range.

The V12 engine was again based on the original Giacomo Colombo design for the 125 model in 1947, but was enlarged in capacity by almost 25% from that in the 166 model to 2431 cc. This was done by increasing the bore diameter to 65 mm, whilst retaining the 58.8 mm stroke of the 166 engine.

As with the 166 Inter, the standard induction wear on the 195 Inter engine was a single twin choke carburettor, but some examples received a triple twin choke carburettor set-up, as with the earlier model.

Some 166 MM competition models were upgraded to 195 engine size specification, as the increased capacity provided more power, and helped them to remain competitive on the race track. Once again the engine featured a twin distributor and coil ignition system, with a single spark plug per cylinder, and wet sump lubrication.