Little factory support was given to IndyCar teams by Panoz after that point, as they had concentrated on their DP01 chassis for the rival Champ Car World Series.

By 2008, only one Panoz saw track time, an aborted second-weekend effort at Indy, that resulted in Phil Giebler being injured in a practice crash.

Superficially, IndyCar machines closely resemble those of other open-wheeled formula racing cars, with front and rear wings and prominent airboxes.

In 2010, IndyCar announced that it would officially adopt a single-make chassis formula, beginning in 2012 among a selection of proposals from interested parties, and set up the ICONIC (Innovative, Competitive, Open-Wheel, New, Industry-Relevant, Cost-Effective) Advisory Committee to make a final recommendation.

[11] Proposals were submitted and announced by BAT Engineering, Dallara, Lola, Swift, as well as the radical DeltaWing design that was penned by Ben Bowlby and financed by Chip Ganassi.

[14] The new specification also improved safety, the most obvious feature being the partial enclosure around the rear wheels, which acts to prevent cars ramping up over another vehicle's back end.

Further, Chevrolet's aero kit was the more dominant with Honda only able to mount a competitive charge on ovals due to having slightly better engine power.

The new Aero Kit also has fewer small aerodynamic pieces that can become broken or dislodged, with the intent to reduce the amount of debris that ends up on the track and expenses from repairs.

The "aeroscreen" cockpit protection was added in time for the 2020 season, and some minor modifications were eventually conducted to reduce the intense heat caused by stagnant air on the drivers.

[19] Planning for a successor to the Dallara DW12 chassis was first publicly discussed on March 5, 2024, noting its age and the trend of open-wheel series replacing cars after five or so years, with the DW12 having last been revised in 2018.

[20][21] IndyCar announced on December 16, 2024, that it would begin wind tunnel testing of an all-new Dallara IR-27 chassis that is expected to début in the 2027 season.

The IR-27 chassis will also use 18-inch wheel rims that are used in Formula One and NASCAR Cup Series and also the introduction of all-new low profile Firestone Firehawk tires as a road relevance program campaign.

It is highly likely that the IR-27 chassis will adopt the Formula 1-style drag reduction system, but only for road and street courses, as DRS is deemed too dangerous for all oval tracks.

From 1996 to 2007, all IndyCar Series cars used a hand-shifted 6-speed sequential manual transmission with a shift stick lever, supplied also by Xtrac since 2000 season until 2007.

This consists of a combination of the Halo mandated in Formula One and a reinforced windscreen dubbed the "aeroscreen", provided by Red Bull Advanced Technologies, to lessen the probability of traumatic head injuries from flying debris.

EPIC was anxious to address public concerns of that era that ethanol use led to engine damage and poor performance when used in road cars.

As a marketing effort, it was believed that sponsoring an IndyCar could be used as a tool to promote education and awareness of ethanol use and to curb the spread of erroneous information.

The additives satisfy the U.S. government's demand that the alcohol is unfit for human consumption and add visible color in case of fire.

The fuel cell for all current IndyCar Series cars are made of rubber and are covered with a Kevlar-fitted blanket for extra protection in side impacts.

During the CART era, V-6 stock blocks were only allowed 45 inHg (1.5 bar; 22.1 psi) at all races outside of Indy, which was a decided disadvantage and left the engine out of favor.

Starting in 1997, IRL cars were powered by 4.0-litre V8, four-stroke piston, Otto cycle methanol-burning, production prototype-based, naturally-aspirated internal combustion engines and electronic indirect multi-point port fuel injection, produced by General Motors (under the Oldsmobile Aurora label) and Nissan (badged as Infiniti).

These engines made 675 hp (503 kW), ran on 109-octane methanol racing fuel, and revved to 10,300 rpm, all while weighing only 280 lb (130 kg).

After Chevrolet and Toyota elected to shut down their IRL involvement after 2005 season (Chevrolet temporarily hiatus from IndyCar Series for six years while Toyota USA elected to focus on NASCAR involvement), Honda became the only standard spec-engine manufacturer in the IndyCar Series starting in 2006 and continued in that capacity through 2011 as it was announced by Indy Racing League president & chief operating officer Brian Barnhart and Honda Performance Development president Robert Clarke on December 15, 2005.

The engines are now fuel-efficient DOHC 2.2-liter twin-turbo V6 with four-stroke piston Otto cycle developing an estimated 550–750 hp depending on the level of boost used and no inter-cooling systems.

The current engine fuel injector delivery now combines direct and electronic indirect injection which produces roughly 300 bar (4,351 psi) of rail pressure.

[38] The push-to-pass overtake system was reintroduced during 2012 Honda Indy Toronto round and still being used currently that produced roughly 60 hp (45 kW) with a duration about 6–200 seconds of usage rechargeable (varies track shape).

The current IndyCar Series car top speed is approximately 235–240 mph (378–386 km/h) on the Indianapolis Motor Speedway oval layout only.

After Roger Penske sold his racetracks (Fontana, Michigan, and Nazareth) to the International Speedway Corporation, the IRL began racing at these tracks in the 2002 season.

[54][55] In 2021, the contract was renewed through the 2024 season; with the closure of NBCSN and NBC Sports Gold, their coverage moved to USA Network and Peacock respectively.

Additionally, Sportsnet would also originate coverage from the Firestone Grand Prix of St. Petersburg, Indianapolis 500, and Honda Indy Toronto with Bill Adam, Todd Lewis, and Rob Faulds.