Jim is a former driver in the Indy Racing League. Guthrie, owner of Car Crafters in Albuquerque, drove in the Indianapolis 500 three times. He debuted in the Indy Racing League in 1996 with moderately successful results. When the IRL moved to purpose-built chassis in 1997, Guthrie was forced to take out a second mortgage to purchase a new chassis. With no sponsorship and the prospects of losing his house if his venture was unsuccessful, he won the second race in the new chassis at Phoenix International Raceway. He got sponsorship from Jacuzzi for the Indianapolis 500 and was able to finish the season (placing 12th in season points) winning Rookie of the Year honors and kept his house. Jim contested four races in 1998, but then during the Indianapolis 500, he was seriously injured in a multi-car crash and has not contested an IRL race since.
Most recently Jim has been competing in Formula Drift with a Chevrolet powered Mazda RX7 sponsored by Car Crafters of Albuquerque. Jim is currently building a 2011 Ford Mustang specifically built for Formula Drift Competition. Jimassumed control in 2012of the local speedway track, Sandia Speedway and instrumental in getting the NAPA to be name sponsor of the speedway.