Lowe said he was unsure whether it was the Ferrari's driver or passenger who was killed in the crash.
Meanwhile, the tow truck driver was treated at a hospital for minor injuries and released, Lowe said.
The crash was reported at 5:12 p.m. Thursday near Pacific Coast Highway and Promontory Drive, Lowe said.
One person was pronounced dead at the scene, Lowe said.
The victim's identity was withheld pending notification of next of kin.