In 1979, automotive parts and service business owner Peter "Pete" Veldman came up with his business idea for the Tire Rack after his son-in-law Mike Joines was frustrated when he couldn't find tires for his Opel Manta sports coupe.

[3] Since 1995, Tire Rack has been the title sponsor of the National Sports Car Club of America (SCCA) Solo Program, a club that allows driving enthusiasts to compete at a local level.

[4] The company now offers 24 tire brands and has ten warehouses in nine states.

[3][5] Customers who pick up orders from a warehouse location are offered a discount.

After 26 years of being a privately-owned family company, Los Angeles-based investment group Leonard Green & Partners purchased a 49% stake in the company with the Veldman family controlling the majority 51%.