In 1996 and 1997, Panizzi won the French Championship title in a Peugeot-backed (funded) 306 kit car.

However, Panizzi's inability to match his rivals pace on gravel, mud, and snow precluded him from challenging for the world title while at Peugeot.

Panizzi had an embarrassing moment during the 2000 Safari Rally, where he and his brother and co-driver Herve were behind the slower car of Argentine driver Roberto Sanchez, who had not moved over despite being ordered to do so was kicking up dust and blinding the irate Panizzi, who picked up two punctures thanks to the stones thrown up by Sanchez's car.

[3][4] In 2004, Mitsubishi Motor Sports recruited Panizzi and his co-driver and brother, Hervé, to lead the company's charge back in the World Rally Championship.

Despite a strong performance in the opening rally of the season in Monte Carlo, he expressed his dissatisfaction at the performance of his car, and after a disappointing showing in Spain, he announced his departure from the team, and was replaced by his former Peugeot teammate Harri Rovanperä.