La 246 Gt remplaça la 206 Gt.

   Sa production fut plus sérieuse et des modèles furent exportés aux USA.

   L'empattement était rallongé de 60mm et sa carrosserie était en acier.

   Calls for more power were answered with the 2.4 L (2418 cc) Dino 246. The motor was a 65 degree, dual overhead camshaft, 9.0:1 compression ratio, iron block with alloy heads. The European motor produced 195 bhp (at 7,600 rpm), and was available as a fixed-top GT coupe or, after 1971, an open spyder GTS. The American version had an exhaust air-pump, and timing changes which created 180 horsepower. The GT had 3 Weber 40 DCNF/6 or 40 DCNF/7 carburetors.

   The 246 Dino GT weighed 2380 pounds. The 246 Dino GTS weighed 2426 pounds. The body was now made of steel to save cost, much of which was of a low quality. The 246 Dino had a 2.1 inch longer wheelbase than the 206, at 92.1 inches. The height of the 246 was the same as the 206 at 43.9 inches.

   Production numbered 2487 GTs and 1274 Spyders, the latter being built from 1972 to 1974 only, for a total production run of 3761.

   The 246 had a top speed of 146 MPH.

   The Dino's 2.4L V6 found its way into a number of other Italian performance cars after its application in the 246, most notably the Lancia Stratos rally car.