Hi, wow this thread sure is long.
The game I remember I played around 7-9 years ago so I assume it was developed during 1990s.
It was a PC game except I'm pretty sure the CD's cover wasn't relevant because it was simply yellow and had what I remember the logo of a red dog. Anyways it uses a 'top-down perspective' and is a racing game involving 'slot cars' that comprise of F1 cars (colours: full red, full black, yellow with a black stripe and white with a red stripe) and racing cars (resembling a sporty sedan I guess in colours: white with some red markings, full black and I honestly can't remember any other colours for the racing cars). The track only has 2 lanes and from memory I think you can alter the view between 'full track' view and 'close-up track'. There is also a pit-stop on each track that exists adjacent to the starting line. And about the rest of the scenery, it usually changes between forest green (with trees), to some muddish looking terrain to some wild rock background - difficult to describe here.
For the gameplay:
Accelerating is as simple as using the arrow keys and pressing up and when turning around corners the car's rear end will slide. If you travel too fast around a corner your car will swerve off the track and a few seconds later the car sprite will return onto the track and be semi-transparent for a very short duration. I think to change lane you just tap left or right. I don't remember if there was even a gauge present on the screen but you need to occasionally drop by the pit-stop to refuel. You can tell when your car needs fuel by the fact that it'll start to wobble more and more. The pit-stop was always the hardest to manage because you need to slow down a lot before you can enter the pit-stop. Even then I sometimes couldn't get in as it requires pressing two keys simultaneously. As for how you progress to new tracks and so forth, I don't particularly remember besides the fact that the yellow-black F1 car could not be played at the start.
Customization:
You can customize your car's...(hmm let me see) engine, wheels, chassis and -one other thing?-. I don't know a great deal about cars but yeah every option would have a large 3D image floating and rotating around. I think the tabs were located either at the top or off to the left side (or maybe even the bottom, who knows it was so long ago?)
And while I hopefully didn't leave out any important details, when looking at rankings (again, some button I don't remember and supposedly part of the gameplay), your opponents will have a full name (that sounds European) like "Dennis Armitage" (that definitely wasn't one in the actual game but I'm trying to improvise here) along with a real-life picture <--- it's a real picture, not a 3D rendered one.
Should anyone know of the game's name or it's existence at all...great! Because I've searched hard enough (utilizing my limited knowledge of cars) to conclude that it's been written off the Internet, or never reached.