The car was designed by Geoff Ferris, and was raced by drivers Mark Donohue and John Watson.

Rounding-out the F1 team was Karl Kainhofer,[4] Penske's long-standing chief mechanic and engine builder, who joined the UK operation in mid 1974.

[5] By late summer in 1974, the team unveiled their first car, named the PC1, an aluminium monocoque chassis built around a Ford Cosworth DFV 3.0-litre V8 engine and a Hewland FG 400 gearbox.

[5] Donohue had retired from motorsport at the end of the 1973 season, but returned to full-time competitive driving for Penske in Formula One.

[11] Donohue retired from the Spanish Grand Prix when he and Alan Jones (Hesketh) crashed after hitting oil dropped onto the circuit by the car of Jody Scheckter (Tyrrell).

Donohue badly crashed the 751 in the final practice session of the Austrian Grand Prix and suffered severe concussion.

For this race the March 751 was abandoned in favour of the team's newly developed Penske PC3 driven by Northern Irish driver John Watson.