Dallara was contracted by Beppe Lucchini to design a car for his new BMS Scuderia Italia racing team, which was to participate in the 1988 Formula One season.

The F188, powered by a Cosworth DFZ V8 engine,[2] was designed by Giampaolo Dallara in conjunction with Sergio Rinland.

[2] Scuderia Italia ran a single entry through 1988 for Italian Alex Caffi.

The F188 was not quite ready to start the season and a F3000 chassis, the Dallara 3087, was used for the opening race in Brazil.

No points finishes were scored, but Caffi did manage a best placing of seventh, at the Portuguese Grand Prix.