Heroic actions of the local Wangaratta City Speedway community are being commended for saving a veteran racing driver’s life after a frightening on-track incident Saturday night.

Frank Thierry, 69, had been in an induced coma until Wednesday afternoon after he went into cardiac arrest while behind the wheel of his V8 AMCA during a race meet on the Shanley Street track about 7:30pm.

Wangaratta City Speedway president Kenneth Mankey said to have Mr Thierry conscious and breathing on his own accord was an extraordinary outcome for a racing community that has been in shock for the past several days.

“Frank is alive because of every single person there on Saturday night,” he said.

“It’s probably the biggest thing I’ve ever been involved in and it’s great to have the outcome we’ve got.”

During a race on Saturday night, Mr Thierry’s car was seen pulling over to the infield of the track.

He suffered a medical episode, leaving him unconscious with his foot stuck on the throttle.

His V8 AMCA spun uncontrollably before stalling by the wall of the track.

The incident involved no other cars and the track was immediately cleared as volunteers raced towards him.

Officials, dubbed as the ‘Pink Army’ for their fluorescent uniform, took immediate control of the situation and were able to keep Mr Thierry alive until paramedics and emergency services arrived.

He was airlifted from Wangaratta hospital to The Alfred Hospital in Melbourne, where he has stayed since.

Mr Mankey said he was extremely thankful for the police and paramedic response and assistance they offered to Mr Thierry and racing officials.

“Everything we train for came in to play on Saturday night, even spectators on the hill, every single person that was there on Saturday night played a part in why Frank is alive right now,” he said.

“Everyone was so accepting and helping with the whole event that happened and I can’t thank them enough.

“Every person that pulls on a pink shirt at Wangaratta is Wangaratta Speedway and it showed on the weekend.”

A seasoned Geelong-based driver of more than 40 years, Mr Thierry, who turns 70 next month, is a racing and cruising enthusiast who has been racing AMCA’s all across the country.

Mr Mankey said he had been in contact with Mr Thierry’s family every day since the incident.

“It’s obviously a big thing to go through, they’re doing ok and as good as can be,” he said.

“Wednesday’s news was a big breakthrough to know he was there and functioning.”

For the local and wider racing community, Mr Mankey said the aftermath had been difficult, particularly in the uncertainty of Mr Thierry’s condition.

But through multiple heartfelt calls and messages of support, they have rallied together in their time of need.

“We have a volunteer group page, and everybody has been writing on it all week checking up on their mates, checking up on each other and making sure no one stayed alone to get through it and we were all waiting on that message to see if he was ok," Mr Mankey said.

“When we got that message yesterday and put it on our groups it made everyone feel a bit lighter.

“I can’t thank the police and paramedics enough who have rung me every day to check up on me and the crew."

Wangaratta City Speedway will be hosting a counselling session at the racetrack on Saturday, 13 December from around lunchtime to help with those who may be struggling or who just need to have a talk.

Police, paramedics and club officials will be present and available to speak with.