One of the cars in the race is a lookalike to the General Lee, the orange Dodge Charger from The Dukes of Hazzard television show, a rival series to Knight Rider. In one scene, KITT jumps over the Charger in a similar fashion to how the General Lee is made to jump in most episodes.
All of the drivers in the race are wearing race helmets for safety, except for Michael Knight. Probably didn't want to mess up that '80s perm.
The front tire of Dorothy Ackridge's mustang has a hole the size of a baseball, but is not shown completely flat.
When Liberty is kidnapped, she is wearing a multi-colored dress. In the next scene, she is shown tied up and wearing the slacks and pink jacket she was wearing during that day's race.