Well, the answer is it's not a Ferrari by any stretch of imagination (though somebody clearly has enough of it) but a Tagaz Aquila (as you probably guessed from the post title) done to look like one. Convincing?
According to wikipedia and other sources:
The Tagaz AQUiLA (Ru:ТагАЗ Аквелла) (Latin for Eagle) was a compact car produced by TagAZ in Taganrog, Russia, with the looks of a sports car.
The Aquila was marketed by TagAZ as a "four-door coupe".
The car is powered by the 1.6 (107 hp) Mitsubishi engine and 5-speed manual gearbox.
The car has a steel spaceframe covered with plastic body panels.
On the plus side for me as an occasional car spotter, this thing is probably more rare than any of the actual Ferrari models.
This is the first sighting of a Tagaz Aquila by myself.
And here are some official Tagaz Aquila photos:
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