The Penske PC-17 was a CART Penske Racing car which was constructed for competition in the 1988 season. The car was designed by Nigel Bennett. The chassis swept the front row at the 1988 Indianapolis 500 with Rick Mears winning the pole position, Danny Sullivan qualifying second and Al Unser, Sr. third. Mears went on to win the Indy 500 and Sullivan the season championship.

The 72nd Indianapolis 500 was held at the Indianapolis Motor Speedway in Speedway, Indiana, on Sunday May 29, 1988. Team Penske dominated the month, sweeping the top three starting positions with Rick Mears winning the pole position, Danny Sullivan at the center of the front row, and Al Unser, Sr. on the outside. Mears set a new track record, becoming the first driver to break the 220 mph barrier in time trials. On race day, the Penske teammates proceeded to lead 192 of the 200 laps, with Rick Mears taking the checkered flag, his third-career Indy 500 victory. The race represented the milestone 50th victory in Championship car racing for owner Roger Penske and Penske Racing.