The scope of production of the P 538 is not guaranteed. Most sources assume that there was a prototype and four production vehicles by the time Bizzarrini went bankrupt. Unlike the P538-001 and 002, the 003 was equipped with the 5.3 liter eight-cylinder Chevrolet engine from the start. Bizzarrini entered the car for the 1966 Le Mans 24-hour race (driver Edgar Berney (CH) / André Wicky (CH)) and for a race in Mugello. The car never saw the finish line in any of the races.