The concept of a formula centred around V8-engined Fords and Holdens for the Australian Touring Car Championship had been established as early as mid-1991. By November 1991, Ford and Holden were both keen to know the details of the new formula by the end of 1991. The new rules, announced in November 1991, indicated that the V8 cars would be significantly faster than the smaller-engined cars.
In 1992, CAMS looked at closing the performance gap between the classes, only to have protests from Ford and Holden, which did not want to see their cars beaten by the smaller cars. The class structure was confirmed in June 1992: Class A for Australian-produced 5.0-litre V8-engined Fords and Holdens, Class B for 2.0-litre cars complying with FIA Class II Touring Car regulations, and Class C for normally aspirated two-wheel drive cars complying with 1992 CAMS Group 3A Touring Car regulations, eligible only in 1993.
The Ford Falcon EB and Holden Commodore VP initially used American-based engines restricted to 7,500 rpm and a 10:1 compression ratio. Holden teams had the option of using the Group A-developed 5.0-litre Holden V8 engine, although this was restricted to the second-tier privateer teams from 1994 onwards. The V8s were first eligible to compete in the endurance races of 1992, with aerodynamic packages designed partly to challenge the Nissan Skyline GT-Rs in those races.
In 1993, cars from all three classes contested the Australian Touring Car Championship, with race classification divided into two: Over 2,000 cc and Under 2,000 cc. Initially, the 2.0-litre class cars competed in separate races, a format changed after the first round due to low entry numbers. Protests from Holden teams indicated that Fords had an aerodynamic advantage, leading to concessions for both manufacturers, including new wing packages.
From 1995, the 2.0-litre cars, now contesting their own super touring series, became ineligible for the Australian Touring Car Championship, leaving the endurance races open solely to the V8 models.
In November 1996, the Australian Vee Eight Super Car Company (AVESCO) was formed as a joint venture to run the series. This set the foundation for the large expansion of the series during the following years. The category also adopted the name 'V8 Supercars' at this time, and secured a new television deal with Network Ten and Fox Sports.
Tony Cochrane and James Erskine left IMG in February 1997, forming Sports and Entertainment Limited (SEL) in April. “SEL was responsible for capturing and maintaining broadcasting rights, sponsorship, licensing, and sanction agreements.” TEGA (Touring Car Entrants Group of Australia) and SEL jointly managed the series, with TEGA responsible for the rules and technical management.
The series expanded in 1998 with a round at Hidden Valley Raceway, followed by a street race in Adelaide in 1999 and a new circuit in Canberra in 2000. In 2001, a championship round was held in New Zealand at Pukekohe Park Raceway, and the Gold Coast event became a championship round.
Major format changes were introduced in 1999 with the incorporation of the endurance races into the championship, and control tyres were used for the first time with Bridgestone as the supplier. The series was renamed the "Shell Championship Series" due to Shell’s sponsorship. Reverse-grid races were introduced in 2000, then limited to the Canberra round in 2001. Compulsory pit stops were also introduced in 2001, alongside the Top Ten Shootout at all rounds. Dunlop replaced Bridgestone as the control tyre supplier in 2002, and the series became the "V8 Supercar Championship Series" after Shell discontinued their sponsorship.
Discussions about parity resurfaced in 2000, leading to "Project Blueprint" in 2003, designed to close the performance gap between the Commodore and Falcon. “Project Blueprint had the chassis pick-up points, wheelbase, track, and driving position become common across both manufacturers.” The aim was “cutting costs to $250,000 per car.”
The Holden VE Commodore caused controversy upon its introduction in 2007 due to its dimensions exceeding Project Blueprint’s limits, and was approved with custom bodywork to meet regulations. Sequential gearboxes were introduced in 2008 and became compulsory by the end of the year. In 2009, E85 fuel was adopted to reduce carbon dioxide emissions.
AVESCO changed its name to V8 Supercars Australia (VESA) in 2005. The series expanded internationally, with events in China (2005) and Bahrain (2006). In 2010, the series gained international status from the FIA, allowing up to six international venues per year.
A project led by Mark Skaife in 2008 investigated future directions for the sport, aiming to cut costs and attract new manufacturers. The resulting "Car of the Future" formula, implemented in 2013, introduced control parts and allowed for more diverse body styles. Nissan committed to the series under these regulations, followed by Erebus Motorsport with Mercedes-Benz and Garry Rogers Motorsport with Volvo in 2013.
In April 2016, the series became the Virgin Australia Supercars Championship, and in 2021, it was renamed the Repco Supercars Championship.
Introduced in 2017, the Gen2 regulations allowed for two-door coupé body styles and turbocharged four- or six-cylinder engines, though no teams adopted the alternate engine specifications.
The Gen 3 regulations were introduced for the 2023 season, aiming for closer racing, reduced costs, and increased road relevance. These regulations involved sweeping aerodynamic changes to reduce downforce and align engines more closely with road car specifications.
The current Gen 3 regulations feature the Ford Mustang GT, Chevrolet Camaro ZL1, and Toyota GR Supra. Cars must be front-engined, rear-wheel drive, and powered by a V8 engine. Engines are supplied by Herrod Performance Engines for the Mustang and KRE Race Engines for the Camaro. “The cars use 18 inches (460 mm) wheels.”
“The front discs have a diameter of 395 millimetres (15.6 in) and a six-piston caliper,” while “the rear discs are 355 millimetres (14.0 in) diameter and have a four-piston caliper.”
The Supercars Championship operates under a "parity formula" aiming for equal competition between different car models. This involves regulating aerodynamics, engine performance, and handling characteristics.
The series is currently broadcast on Fox Sports and the Seven Network.
Clarke, Andrew; Wensley, Scott (2007). V8 Supercars: The First Decade. Carnegie, Victoria: Publishing 101. ISBN 978-0-9803909-0-2. Greenhalgh, David; Howard, Graham; Wilson, Stewart (2011). The official history: Australian Touring Car Championship – 50 Years. St Leonards, New South Wales: Chevron Publishing Group. ISBN 978-0-9805912-2-4. "2016 V8 Supercar Operations Manual". V8 Supercars. 23 February 2016. Retrieved 2 February 2019.