[2] The car was recognised as a significant step forward from the PS01, and the team utilised extensive wind tunnel testing in Italy and the United Kingdom.

The car utilised the Minardi's unique titanium cased gearbox, and changed to a pushrod from pullrod suspension for the first time.

New driver Mark Webber scoring two points finishing fifth at the season opening Australian Grand Prix.

Whilst repairs were made overnight, including flying the wing between Catalunya and Faenza, owner Paul Stoddart withdrew both cars from Sunday's Grand Prix.

[20] In August, British newspaper The Daily Telegraph reported that Stoddart was due to sell the team to a consortium led by Irish businessman Brendan McGuinness and Saudi Prince Al-Waleed bin Talal.

[23][24] Minardi finished the season 9th in the Constructors' Championship, equal on points with Toyota team and now defunct Arrows Grand Prix.