Race driver John Iafolla has walked away from a horror crash at the Sandown 500, after his vehicle flipped multiple times and landed on a ute.

Sunday's Toyota 86 race was abandoned when Iafolla lost control of his vehicle during the race's opening lap.

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After veering off the track, Iafolla's vehicle shot off the grass and flipped end on end before coming down hard on the back of a nearby ute with two passengers sitting in the front seats.

The airborne car eventually came to a rest upside down next to the ute.

Remarkably, nobody was badly injured from the incident, with Iafolla walking away minutes later with the assistance of officials.

The 21-year-old NSW driver was taken to hospital and is in a stable condition with no serious injuries.

The race was initially suspended, but officials eventually decided to abandon the race entirely.

The spectacular footage shows car parts and debris flying off Iafolla's vehicle and the unsuspecting passengers' shocked reaction as the ute's tray was crushed behind them.

Sunday's main event at Sandown, the Australian Supercars Championship, starts at 1:35pm AEST.