The Panoz AIV Roadster Was One of the Most Advanced American Sports Cars in the 1990s

Since the company's inception in 1989, Panoz Automotive has created some handsome automobiles with state-of-the-art engineering and impressive performance. Though the carmaker never aimed to become a rival to the Big Three, it managed to build a name for itself as the best track-oriented American carmaker, and chances of seeing a Panoz on the track are considerably higher than spotting one passing down the street.

The Panoz vehicles followed the same design principles as the Lotus and Allard roadsters built in the 1950s, with interior features kept at a bare minimum, aiming for weight savings and enhanced performance. Nonetheless, nowadays, street-legal Panoz sports cars like this outstanding AIV Roadster are a feast for the eyes and a pleasure to drive.

The Panoz AIV Roadster was introduced in 1996 as a modern take on the classic 1950s American hot rod but with cutting-edge engineering. Though at first glance, it might look like a kit car, it was a production model - a no-frills machine with no roof, modern creature comforts, or automatic transmission but able to deliver an exhilarating driving experience.

What really made it stand out from the crowd of Mustangs, Camaros, and Challengers back in the mid-1990s was its pioneering use of aluminum. Approximately 70% of its structure is made of aluminum, including the chassis, engine, and body, which not only gave it great strength, rigidity, and corrosion resistance but also helped reduce overall weight and make it a beast in terms of performance.

Panoz used the same aluminum chassis that underpinned the original 1992 Roadster model but paired it with an aluminum bodywork, protruding bicycle-style fiberglass fenders over an otherwise open front wheel design, and an entirely new drive train. The extensive use of lightweight aluminum alloys resulted in a curb weight of 2,570 pounds (1,170 kg).

At the time of its launch, it was the first Aluminum Intensive Vehicle (hence its name) made by an American company and one of the most advanced sports cars built in the US. It boasted alluring retro looks and was focused on performance rather than practicality with a 4.6-liter all-aluminum Ford DOHC V8 engine from the Mustang SVT Cobra that produced 305 hp (309 ps) and 300 lb-ft (407 Nm) of torque and allowed the lightweight roadster to rocket from 0 to 62 mph (100 kph) in just 4.3 seconds and reach a top speed of 140 mph (225 kph).

For comparison's sake, the Mustang SVT Cobra powered by the same engine did the 0 to 62 mph sprint in 5.9 seconds. The Panoz AIV managed a shorter time because it was considerably lighter. No less than 821 pounds lighter than the Ford-made machine, to be more precise.

The building process for each Panoz AIV was labor-intensive, though, with at least 350 hours of hard work required for every unit, which explains the low production volumes. Only 176 hand-built examples of the Panoz AIV Roadster were ever made between 1996 and 1999, plus 6 prototypes, making each particular unit quite desirable. And luckily, thanks to the aluminum construction and the reliable Ford-sourced V8 engine, a great number of them have survived in excellent condition.

The Panoz AIV Roadster pictured here is one of the earlier production examples from 1997 and is finished in black livery over a tan interior. Under its hood lies a correct Mustang SVT Cobra DOHC V8. It is mated to a 5-speed manual transmission and outputs 305 hp at 5,800 rpm and 300 lb-ft of torque at 4,800 rpm.

Other performance features worth mentioning include power rack and pinion steering, 4-wheel ventilated disc brakes, and independent front and rear suspension with adjustable coil-over shocks. All these features contributed to making the AIV Roadster one of the fastest production cars in the US.

This 1997 unit of the two-seater comes with a convertible soft top and the cockpit is appointed with saddle leather upholstery. Other interior features include a leather-bound three-spoke steering wheel, wood veneers on the center console and gauge cluster, and air conditioner. Moreover, it comes with optional plexiglass wind wings and rides on factory Kosei-Roush 18″ alloy wheels.

If you're in the market for a different breed of American muscle, this 1997 Panoz AIV Roadster is for sale. It is set to go under the hammer in early April with Mecum. Brand new, the Panoz AIV had a stiker price of about $65,000. There is no word about mileage or estimated price for this unit, but the vehicle seems to be in very good condition.