Dick Johnson and Executive Chairman Ryan Story both retain significant shareholdings in DJR, and maintain their day-to-day positions, overseeing operations of the Shell V-Power Racing Team as the new structure evolves.

The team was initially based out of Johnson's family home in Daisy Hill in Brisbane's southern suburbs, before moving to facilities within sponsor Palmer Tube Mills' factory.

Johnson debuted his new Falcon at a non-championship meeting at Lakeside in June,[3] and then finished second in the car in the 1980 CRC 300 at Amaroo Park in August.

Brock was delighted as other than Kevin Bartlett's 5.7L Chevrolet Camaro Z28 (which had proved its speed, but its drum rear brakes were not up to the job), his HDT Commodore had proven near unbeatable in 1980 and Johnson and the new model Ford Falcon provided a welcome new challenger.

The suspension problems were fixed by the time the team got to Bathurst for the James Hardie 1000 and Johnson again put the Falcon on the front row alongside Bartlett's Camaro.

Johnson won the touring car championship again in 1982 in the Tru Blu XD Falcon, though he had actually finished second in points behind Peter Brock.

However, Brock was disqualified for the use of yet to be homologated engine parts and the subsequent loss of points gave Johnson his second ATCC championship win.

Despite running strong all day and having no major troubles other than a broken front sway bar late in the race which slowed the car by approximately one second per lap, the No.

It was the start of Johnson's long run with Racecam and made him more popular with the Australian public, even with Holden fans, thanks to his quick wit and seemingly endless number of one-liners while driving in races.

To help fix the problems with the Falcon, Johnson enlisted the services of former Williams Formula One mechanic Wayne Eckersley, who was now based in Brisbane.

The Falcon was also on the pace at the 1983 Castrol 400 at Sandown where the long front and back straights suited the over 450 bhp (336 kW; 456 PS) of the 351 V8 engine.

Johnson also had a new co-driver in 1983 with 1974 race winner Kevin Bartlett replacing John French who was driving for the factory backed Nissan team.

On his lap for pole, Johnson ran slightly wide at Forrest's Elbow, with the rear of the Falcon clipping the wall on the exit of the corner.

While the car was a write-off, Johnson thankfully emerged from the wreck with little more than a headache and a small cut over his left eye, though he has no memory of the crash, or the lift back to the pits with Peter Brock who was on his warm up lap for his second run.

The Mustang, like almost all other cars in the ATCC, was outclassed by the JPS Team BMW 635 CSi of Jim Richards who won seven of the championships ten races.

The team had actually entered and qualified one of the Mustangs at Bathurst in 1984 (painted white with #71) in the new Group A category, but it was only there for a shakedown run and insurance should there a repeat of 1983 and was withdrawn after Johnson had put the XE Falcon onto fourth on the grid.

While the Mustang struggled to match the pace of the Richards BMW in the ATCC, the August homologation (which also increased power to around 340 bhp (254 kW; 345 PS) brought the car back into winning contention.

In 1987 the team switched to the Ford Sierra RS Cosworth and began a 17-year run of naming rights sponsorship with petrochemical company Shell.

Qualifying at bathurst also proved controversial for the team with the two Sierra's excluded from the results of Hardies Heroes when they failed a post runoff fuel check.

Johnson, who was suffering fuel feed problems late in the race, just held on for his first win in the RS500 from the fast closing Nissan Skyline of George Fury.

He would also claim in the interview with Australian Muscle Car magazine in 2015 that another part of his motivation was that he had originally tried to buy an EPROM chip burning machine from British Sierra expert Andy Rouse in 1987, but Rouse had refused to sell one and that a chance meeting with one of the engineers involved with the Ford RS200 rally car project led to the purchase of the machine as well as Lowe travelling to the United States to learn how to use it.

Later in 1988, Ford also released their own official, lighter version of the 9-inch diff, but the DJR unit would prove to be popular due to its lower cost.

In the 1991 ATCC, the DJR team were outpaced by the Nissans of Richards and Mark Skaife with Bowe finishing sixth and Johnson ninth, with the Tooheys 1000 at Bathurst proving no different.

Despite trouble over the interpretation of the new 5.0L V8 rules which saw Johnson start from the rear of the grid, he finished the first race in a strong eleventh place before improving to ninth in the second.

A repeat victory at Sandown that year augured well for another Bathurst win until an incident with Glenn Seton forced the number 17 Falcon from the track while leading.

Sponsorship for the 2006 season came from two of Dick Johnson's own business ventures, FirstRock Mortgage Centre and V8 Telecom with Will Davison driving the second car.

[31] Having operated a rotating sponsorship model for the previous two seasons largely with Penske Corporation subsidiaries, in 2017 Shell returned as the team's full-time title sponsor.

In October 2020, it was announced that Penske would sell its stake in the team to Ryan Story with it to be return to being named Dick Johnson Racing.

A body styling kit was added to the existing XR parts, consisting of new side skirts, and front and rear spoiler lips.

Drivers who drove for the team on a part-time basis are listed in italics 1 Brodie Kostecki 9 Jack Le Brocq 2 Ryan Wood 25 Chaz Mostert 3 Aaron Love 7 James Courtney 4 Cameron Hill 10 Nick Percat 6 Cam Waters 55 Thomas Randle 8 Andre Heimgartner 14 Bryce Fullwood 12 Jaxon Evans 96 Macauley Jones 11 Anton de Pasquale 17 Will Davison 18 Mark Winterbottom 20 David Reynolds 19 Matthew Payne 26 Richie Stanaway 23 Tim Slade 31 James Golding 87 Will Brown 88 Broc Feeney