Trans Am rules required a purpose-built tube frame chassis. The bodies were made of composites, such as, carbon-fiber, kevlar and fiberglass. The rules stipulated that the cars should maintain the recognizable external features of the manufacturer's model while providing flares necessary to keep the tires inside the bodywork. SCCA Pro Racing used body templates to ensure the shape of cars were within designated tolerances. Cars were required to use the stock windshield or an approved alternative, which had to be mounted in the original location and at the original angle. The rules also dictated the use of the stock taillights, which were often the only production parts on the cars.

The standard wheelbase for a 1997 Trans Am car was 102 inches. However, a grandfather rule applied to cars registered prior to 1995 allowing them to compete with stock wheelbase specifications that could be no greater than 110 inches. Overall car width was restricted to 80 inches. All four wheels were required to be the same diameter (15 or 16 inches) with a maximum rim width of 12 inches. Only bias-ply racing slicks or rain-tires were allowed. The maximum mounted cross section width of these tires was 14.75 inches. The rules also required a minimum ride height was 2.5 inches. A muffler was mandated that would restrict a car's sound level to 107dba.

The minimum weight of the cars was based on a combination of engine displacement and configuration. For example, a 275 cubic inch V6 engine, the smallest eligible motor for the series, would be required to weigh 2,550 pounds. At the other end of the spectrum, Trans Am rules allowed for the use of a 358 cubic inch V8 motor, however, the car would have to weigh 2,725 pounds. The popular choice among teams was a 311 cubic inch V8 engine which required a car to weigh 2,600 pounds. This combination of rules would allow a Trans Am car to accelerate to 140 miles per hour in approximately 11.5 seconds. Speeds up to 200 miles per hour could be reached depending on the gear ratios in the transmission and final drive. Equally impressive was the stopping ability of a Trans Am car, which could go from 70 miles per hour to a complete stop in 131 feet. Another remarkable aspect of these cars is the handling, which despite their weight and size could pull over 1.3Gs.

Roush Racing constructed Tom Kendall's 1997 championship winning car. Roush chose to use a 310 cubic inch V8 pushrod motor. The engine was a cast-iron block with aluminum cylinder heads. It was estimated that this combination produced about 650 horsepower at 8,200 rpm. The 1997 rules required the use of a spec rev limiter, which was set to 8,200 rpm. The minimum weight for a car using a 310 cubic inch engine was 2,600 pounds but after the driver and fuel were added that total would be closer to 2,800 pounds. As a point of comparison the 1997 production version of the Mustang Cobra was equipped with a 4.6-liter DOHC engine, which produced 300 horsepower and weighed 3,084 pounds. The power in the Roush car was transferred to the rear wheels through a 5-speed Hewland transmission and 9 inch Ford differential.

Kendall and the Roush Racing team began their streak at the opening race of the season. In 1997 the series started in February at the St. Petersburg street course where Kendall had to come back from a spin to take the victory. Kendall's next win was at Phoenix, which was followed by victories at Lime Rock, Detroit, Mid Ohio and Minnesota. Throughout the season Kendall and the Roush Mustang set new records. His seventh win of the 1997 series at Cleveland put his career earnings over $1 million and in doing so he became the first Trans Am driver to reach this milestone. By the end of August he had taken wins at Trois Rivieres, Watkins Glen, Road America and Mosport. Kendall's ninth straight victory, which was at Watkins Glen, surpassed the previous record of eight consecutive Trans Am wins set by the late Mark Donohue in 1968. In an ironic twist it was Jerry Titus who ended Donohue's streak and as a result of his accomplishments during the year Kendall won the Jerry Titus Award - voted on by the American Auto Racing Writers and Broadcasters Association to recognize the driver of the year. The victory at Road America allowed him to clinch the 1997 Drivers' Championship. This was his third consecutive title and fourth of his career making him the first driver in series history to achieve these milestones.

Kendall's streak came to an end at Pikes Peak the twelfth race of the season. The winner was another Mustang driver and rookie sensation Mike Borkowski. Borkowski was Bobby Rahal's protégé whose experience was mainly in sports racing and open wheel cars but he seemed to come grips with the bigger and heavier Trans Am cars by the end of the season. At Pikes Peak the Tom Gloy driver qualified fifth but the series rules determined the starting order using a draw. This process was restricted to the five fastest qualifiers and Borkowski drew number one allowing him to start from the pole. This proved to be the most exciting Trans Am event of the season as Kendall and Borkowski bumped and banged each other during the final laps. Despite all this pressure from the new champion Borkowski was able to prevail. Three weeks later he would take a win at the crashed filled finale in Reno. These wins and other top ten finishes allowed Borkowski to take the rookie title and third in the final standings.

Other top Mustang drivers included Brian Simo, Dorsey Schroeder, Jon Gooding and Michael Lewis. Simo and Schroeder were members of the Tom Gloy Racing team. Schroeder the 1989 Trans Am champion had a frustrating season. Although he had several top three finishes and was the fastest qualifier twice he could only manage a fifth in the final driver standings. Simo's consistency paid off and he finished second in the championship just one point ahead of Borkowski. Finishing fourth in the final standings was Kendall's Roush teammate Jon Gooding. Rounding out the top ten was Michael Lewis and his team.