Along with the Brabham BT46B "fancar" developed in 1978, the six-wheeled Tyrrell was one of the most radical entries ever to succeed in F1 competition and has been called the most recognisable design in the history of world motorsports.

This would have two effects; one would be to lower overall drag and thus improve speed on straights and the other was to clean up overall aerodynamics so the rear wing would receive cleaner airflow.

Initially considered to be a problem area, Joel Rosinsky later declared that "The steering is so gentle and absolutely free of reaction that you might have thought it was power-assisted!

The car was initially kept under a tarpaulin with hoops over the wheels to make it look conventional, leading to astonishment when the tarp was pulled off.

The car first took to the track at Silverstone on 8 October 1975, and, after more tests, Tyrrell decided to build two more examples with a slightly longer wheelbase to race in the 1976 season.

The car seemed to be particularly good down the straights and through long corners, like at Anderstorp, Watkins Glen, Mosport Park, Fuji and the Österreichring, but it struggled on bumpy circuits like Brands Hatch, Jarama and the Nürburgring, where the grip was actually variable, because, depending upon the contours or bumps on the track, one of the front small tires would touch the road, but the one in front or behind it on the same side would not.

[1] Late in the season, an attempt to address the handling was made by increasing the track of the front suspension, but this moved the tyres out from their original hidden position, essentially eliminating the whole advantage of the concept.

In 1999 and 2000, the resurrected P34 competed at a number of British and European circuits as an entrant in the FIA Thoroughbred Grand Prix series.

Stretton also achieved numerous pole positions and class wins at the Grand Prix Historique de Monaco.

The March Engineering, Williams and Scuderia Ferrari teams also built experimental six-wheeled F1 chassis; however, all of these had four wheels at the back rather than at the front like the P34.

The car, shown sporting a yellow livery with red accents, was depicted as still being active in automotive races, despite the fact that the episode wherein it was stolen was produced and set in the mid-eighties.

In season 4 of Phineas and Ferb, a car inspired by the Tyrell P34 is used in the episode "Live and Let Drive" by Dr. Heinz Doofenshmirtz.