In 1964 Enzo Ferrari had a row with FIA and allowed NART to register his cars (158 F1) for racing in US. Livery was white and blue. Ferrari's tradition of red for
everything was not that well established: after all, back then, Ferrari was a mediocre team with not a lot of success.
Not like today, when they´re a mediocre team with less than not a lot of success
Back in Europe cars were painted in red, wheels weren't.
That or the sport colour was changed from dark blue to cyan...
... or perhaps it's a nice "powder" colour that goes well with red...
... or maybe it's because people back then were high on LSD and The Beatles had a pool in Abbey Road of the same colour.
I can also pull explanations out of my... mind