Fiorano circuitFerrari decided to cancel Thursday's launch ceremony of its 2012 Formula 1 car because of the poor weather conditions in Maranello.

As reported yesterday, the harsh wintry conditions had left all of the Maranello area covered in snow. As it continued snowing today, the Italian squad decided to cancel the event altogether and will now broadcast its car's unveiling on its website instead.

"It is still snowing heavily here in Maranello. Therefore, the launch ceremony of the new F1 car has been canceled," Ferrari said in its official Twitter account.

"Pictures, interviews and technical analysis of the new car will be available tomorrow on www.ferrarif1.com."