|The Lola Mk5 was Lola's 1962 F Junior offering, following on from the rather disappointing Mk3 it took much of its design philosophy from the F1 Mk4.
Things started promisingly for the Mk5 with a 1st and 3rd for Richard Prior and John Hine in the opening round of the B.A.R.C. Championship at Goodwood in their works Lola Equipe cars although in all honesty it was a weak field. Dennis Taylor took a second at the end of March at Snetterton in his self-entered car followed by a third at the same track in April at the Vanwall Trophy. Taylor continued to run well narrowly losing out to the works Lotus of Peter Arundell at Goodwood in the Chichester Cup at the end of April. John Hine was another runner-up at Snetterton in the Stanley Sears Cup in May whilst Hugh Dibley won at Goodwood in the Scuderia Light Blue Mk5 in another poor field in the same month and then repeated the feat at the same track at the end of June.
Ron Harris took over the running of the works cars and John Fenning celebrated by taking third in the first race for the new team at Oulton Park in August and followed this with a 4th at Goodwood the following week in a very high calibre field, both races were rounds of the B.A.R.C. Championship. The Ron Harris team were on the road to Snetterton the following day and Fenning took second in the Astley Trophy. The Ecurie Light Blue team took their car to Kirkistown for the Championship of Ireland at the end of August and Hugh Dibley repaid the trip across the Irish sea with second place. Peter Ashdown in the Superspeed Conversions Mk5 finished third in the London Trophy at Crystal Palace in September and it was a 1-2 for the Ron Harris Team at Snetterton in the Snetterton M.R.C. Championship but most of the opposition came from the Jim Russell Racing Driver School clients. The end of September saw a final win for Fenning in the Ron Harris car in the B.A.R.C. Members Meeting and he backed this up with third in the Molyslip Trophy at Snetterton and second in the Daily Herald Trophy at Silverstone.
Outside the UK David Hitches took second behind Jo Siffert in April at the IV Circuito Internazionale Riviera di Cesenático
in Rimini. The race was round 3 of the Italian Championship and in the next round at the Circuito del Garda in Salò Hitches went one better taking the win from future Lola sportscar and F5000 driver Ulf Norinder. In June John Hine took third at the terrifying, slipstream battle that is the Grand Prix des Frontières at Chimay in Belgium. Picko Troberg was upholding Lola honour in Sweden with second spot at Falkenberg in August whilst in the same month Franco Dari finished fourth in the Gran Premio di Pergusa at the Enna Pergusa circuit in Sicily. It was another fourth place at Monza in September, this time for Raffaele Cammarota and in the same month David Hitches returned to the podium with second at Montlhéry in the Coupe de Paris and Picko Troberg picked up a third on Nürburgring's South Circuit. October saw Raffaele Cammarota fourth again at Monza in October's Coppa Junior and that was it for the year.Over the year the Mk5 showed flashes of competitiveness but the season belonged to the Lotus 22 but allowing for the limited numbers of Mk5s racing, only 9 were built, results were good.