The 1974 Canadian GP saw an entry with their own chassis, the PC1, a standard tub built around a Cosworth DFV engine and a Hewland gearbox. Donohue took the car to 12th place on its debut. In 1975, Roger Penske mounted a full season attack with the PC1, Donohue managing to score a fifth place in the Swedish GP. However, the car was retired after the French GP and Penske entered a March 751 for the next three races, scoring another fifth in the British GP. While practicing for Austrian GP, a tire thought to have deflated, pitched his car into the catch fencing and over barrier, killing a marshal, injuring another. His helmet struck one of the fence post and he was momentarily knocked unconscious but otherwise apparently unharmed, he continued to complain of headaches and later lapsed into unconsciousness, dying two days later in a Graz hospital, despite undergoing emergency brain surgery.

For 1976, Penske signed a sponsorship deal with Citibank and entered a brand new PC3 for John Watson. In spite of a fifth place scored at the South African GP at Kyalami, the PC3 was evolved into the PC4, which was much more competitive, allowing Watson to score two podiums in France and Britain. Then, in the Austrian Grand Prix, the team scored their only F1 win, "forcing" John Watson to shave his trademark beard. Still, Penske tired of the travel and expense of competing in Europe and without his friend and fellow American Mark Dononue at his side Penske at the end of the year decided to concentrate solely on Indy Car racing, selling the remains of his European operations to Günther Schmidt of Germany.