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Piquet attempted to race in the Indy car series and was hired by Team Menard (Lola-Buick) to drive in the 1992 Indianapolis 500. He had taken to the track well, and appeared comfortable driving at high speeds despite never before racing on an oval. During practice, Piquet's car ran over a metallic piece of debris and drove through turn 3 at full speed. But when driving through turn 4, Piquet abruptly took his foot off the pedal to enter the pit lane, which resulted in his hitting the wall. Piquet suffered serious foot and ankle injuries and was forced to sit out the race. He returned after rehabilitation in 1993 and managed to qualify. He started in 13th position, but finished in 32nd, dropping out with engine problems after only 38 laps.

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