A Ferrari driver has died after the luxury sports car crashed into a tree and overturned in Victoria’s Gippsland region.

The crash happened on Main Neerim Road in Neerim South shortly before midday on Saturday.

A female passenger in her 70s suffered life-threatening injuries and was airlifted to The Alfred Hospital in Melbourne.

The pair were reportedly taking part in a Ferrari Club drive when the vehicle lost control for reasons that are still under investigation.

Victoria Police are appealing for witnesses and anyone with dashcam footage to come forward as investigators examine the cause of the fatal crash.

The tragedy has pushed Victoria’s road toll even higher, renewing calls for motorists to take extra care on regional roads.