A video of a crash between a Ferrari 488 GTB and a Corsa Utility bakkie is doing the rounds on social media.

On the CCTV footage, a white Toyota Etios can be seen making a u-turn and the Utility bakkie follows suit – while trying to make the u-turn, the red Ferrari comes speeding and crashes into the bakkie.

The costs to fix the damages will not come cheap to the person who caused the accident.

A Ferrari 488 GTB costs over R5.5 million and while a 2017 Corsa Utility bakkie costs about R130 000.

The incident reportedly occurred Somerset Road in Green Point.