The PC-23 was a design evolution of its predecessor, the PC-22, which won the 1993 Indianapolis 500, 8 races over the entire season, and missing the 1993 CART title by only 8 points. The only substantial difference of the new car from it were the smaller rear wings on the short ovals, mandatory by rule changes for the 1994 season, and Team Penske put in a lot of test efforts to minimize the effects of these changes. There were also some modifications on the transmission, but the new car was mostly a progression. Plans to fit the PC-23 with an active suspension system were cancelled due to a ban by CART on such technology. The car and the Ilmor engine were ready for testing by mid-December 1993.