Hey, I found that exact model in the Spring 1988 catalog, page 28. Indy Turbos - The Ultimate Racing Machines... with real Turbo Power.
"Real championship Indy Racers pack Turbo charged engines for blasts of power you control. Down to every detail, Michael Andretti's Kraco car, Al Unser, Jr's Domino's Pizza car, Rick Mear's Pennzoil and Danny Sullivan's Miller American car are authentic replicas of today's Indy winners. And they're Turbo powered!"
Under the #4 Miller car it says Stock No. 2416-27 (looks like the Pennzoil car was planned as the opponent as it is #2416-49).
Cube: 3.0
Weight: 13lbs
Package Size: 7" x 5 1/2" x 16 1/8"