Louis Meyer became the first driver to win the 500 for a third time, setting a speed record of 109.069 mph, and afterward became the first driver to be presented with the new Borg-Warner Trophy.

Former driver Tommy Milton was now an engineer at Packard, which was providing the pace car that year, and Milton suggested that the car be given to the winner -- a tradition which continued thereafter. A third tradition was born that year also when Meyer was photographed in victory lane drinking milk. It was actually buttermilk -- which Meyer happened to prefer as a thirst quencher and would have gulped down whether he'd won or lost.