"With the exception of the engines, all the technical components will be identical - the space frame chassis, sequential transmission, brakes, suspensions, axles, diffs, wheels and tyres.
"Car owners will be able to fit panels matching any manufacturer-approved model of car.
"Panels may require some minor modifications to fit the space frame chassis but it has been future proofed with that in mind.
"Competitors will have the option of using the same manufacturer V8 engine or if a suitable variant is not available, using another V8. To ensure parity, all engines will use the same electronic engine management system, which will allow tuning to meet strictly limited maximum power and torque outputs.
"Simple management through hub dynos and weight will guarantee the cars go out on the track with the same performance envelope.
"For the first time in New Zealand we can have a truly competitive series for manufacturers of a diverse range of vehicles. The spin-off for after-market and accessory packages will also be an obvious attraction."
Following its official launch, nine firm orders have been placed for the new NZV8 Touring Cars.
Current NZV8 competitor Nick Ross is excited by the new car.
"I think the new concept is great. It's going to be really affordable for the little guy who hasn't got a big budget. They can buy one of these cars and go racing and be competitive right out of the box."
Cost of the new car is approximately $60,000 plus tax for a rolling chassis or $160,000 plus tax as a ready-to-race car, depending on the owner's final requirements.
The new-generation car will compete for the NZV8 Touring Car Championship and trophy in 2012-13 and existing NZV8s will contest a separate MotorSport New Zealand championship.