The LMP-1 Roadster-S and LMP01 Evo were notable amongst Le Mans prototypes in that their engines were located in front of the cockpit rather than the conventional midship configuration.
Both cars have nearly identical front ends, with narrow fenders surrounding deep valleys with a rounded nose which housed the engine.
But as the continually updated Audi R8 dominated the American Le Mans Series, the company also felt the need to upgrade the LMP-1 Roadster-S in order to remain competitive.
The side air exhaust vents were on the other hand made larger, with only a small compliance panel being used behind the front wheel well.
The Panoz LMP-1 Roadster-S would make its debut at the second race of the inaugural American Le Mans Series season in 1999.
Backed by title sponsor Visteon, only one car was available in time, leading Panoz to use an older Esperante GTR-1 modified for the LMP class.
On returning to the ALMS for Mosport, both cars were able to overcome the older Riley & Scott-Fords, Ferrari 333 SPs, and withdrawn BMW V12 LMRs to take first and second place.
The defending Petit Le Mans winners would once again lose to BMW by taking only third and fourth at the event, before closing out the season without another podium.
Panoz would finish third in the LMP championship behind Audi and BMW, while the LMP-1 Roadster-S' successor, the LMP07, would make its debut at the season finale.
For 2001, Panoz would start the initial race of the season with a pair of LMP-1 Roadster-S before committing fully to their new LMP07 at the next round, the 12 Hours of Sebring.
Westward Motorsports would be the first to compete with a customer chassis that season, taking fifth place at Donington Park ahead of the two factory LMP07s.
However, by this time Panoz had become frustrated with their new LMP07 following several disappointing performances, when it was decided following Le Mans that the team would bring back their LMP-1 Roadster-S. One car finished on the podium on its return debut before following this with a race win at Portland ahead of the Audi R8s.
However the team would suffer difficulties at Mazda Raceway Laguna Seca and the Petit Le Mans, leaving them off the podiums.
For 2002, the redesigned LMP-01 Evo would make its debut for Panoz in the American Le Mans Series, fully replacing the abandoned LMP07s.
The team would later win at the temporary street course at RFK Stadium in the ALMS, before troubles with the aged cars saw Panoz fail to score a podium in any of the remaining races that season.