Bigben Interactive has announced that Test Drive: Ferrari will be releasing on PS3, PC and Xbox 360 in March 2012.
Unfortunately nothing else is known about the title, but current speculation seems to point to Slightly Mad Studios (Need for Speed: Shift) taking on developing duties.
The last Test Drive game, TDU2, was released at the start of this year to a mixed reception and many bugs. I quite enjoyed it, but still prefer the original.
You can read Alex’s detailed impressions on TDU2 here.