While hovercrafts don't exactly have wheels, any race involving vehicles crossing land and water is always noteworthy.
Hoverally 2006, a hovercraft racing event, returns to Ohio this June after a three year absence. Dates, times, location, can be found at sibling Blogging Ohio. A video of the 2003 rally is posted as well.
Event planners are looking for more participants and have plenty of used crafts at reasonable(!) prices for would-be racers.
[Source: Hovercraftpromoters, youtube.com, Blogging Ohio]