The PC version of Ford Racing was developed by Elite Systems and released on November 2, 2000. The PlayStation version was handled by a separate studio, Toolbox Design, and followed on January 29, 2001. The game was later made available as a downloadable PS one Classic on the PlayStation Store in May 2009, extending its reach to PlayStation 3 and PlayStation Portable users.
The PC version features 12 different Ford vehicles across 10 race tracks, while the PlayStation version includes 11 vehicles and eight tracks. None of the tracks are based on real-world locations. Players begin with a Ford Ka and unlock additional vehicles by progressing through the game. Each vehicle is represented across model years 1997 to 2000, producing two versions per car and eight total variants per vehicle model.
The core Career Mode requires players to win races to earn prize money, which can then be spent upgrading their vehicles. An optional action replay is available after each race, viewable from multiple camera angles. The PlayStation version includes a multiplayer option that is absent from the PC release.
Both versions received mixed reviews. On Metacritic, the PlayStation version scored 53 and the PC version scored 51, with both aggregates described as indicating mixed or average reviews.
Critics commonly singled out the AI-controlled drivers for aggressively ramming the player off the road. David Zdyrko of IGN criticized the PlayStation version's graphics, music, and sound effects, as well as its track designs, noting that while the vehicles resembled their real-life counterparts, they fell well short of the standard set by competing titles in the genre. Shahed Ahmed of GameSpot similarly took issue with the graphics and lamented that the early unlockable vehicles were slow and dull. Ahmed acknowledged that the game offered strong control mechanics and an advanced physics engine for its time, but concluded that numerous flaws prevented it from being a truly appealing product. He suggested that dedicated Ford enthusiasts might find some novelty value at a bargain price.
Not all coverage was negative. Laurie Emerson of GameZone praised the PlayStation version comprehensively, calling it a winner across all areas. GameZone's Rita Courtney gave the PC version a positive review, praising gameplay and graphics while noting that the documentation could have been more thorough for players unfamiliar with racing games.
Scott Moore of Sports Gaming Network appreciated the vehicle variety and visuals, but criticized the lack of an in-car view and found that each car handled identically regardless of model. Clayton Crooks of AllGame argued that the graphics were the game's only strong suit, concluding that Ford Racing failed as a simulation by not delivering convincing physics or realistic car handling. Dave Woods of PC Zone was blunt in his disappointment, criticizing the controls, graphics, and the absence of multiplayer from the PC release.
Ford Racing established the groundwork for a series of licensed Ford-branded racing games that followed in subsequent years. The original game's limitations — including its non-real-world tracks and undifferentiated vehicle handling — were areas the sequels sought to address as the series expanded.