Statistically, 1992 was Davey Allison's best season in Winston Cup racing. Davey started sixth in the 1992 Daytona 500 but was probably not quite as fast as the Junior Johnson teammates of Bill Elliott and Sterling Marlin. But the race would change dramatically on lap 92 when Elliott, Marlin, and Ernie Irvan triggered a multi-car crash at the front of the pack. Fourteen cars were eliminated, but Allison—and eventual runner-up Morgan Shepherd—somehow made it through the mess. He would dominate the event, lead 127 laps to join his father as a Daytona 500 winner. Allison also held the distinction of being the only driver to lead the Daytona 500 at halfway and go on to win, something not repeated until Denny Hamlin won the 2016 running of the race.
The 1992 Hooters 500 would be a milestone race in NASCAR Winston Cup history. It would be the final race of Richard Petty's career, as well as the first for future Winston Cup Champion Jeff Gordon. Couple that with the closest championship race in history, and the race was destined to be a classic. Davey Allison entered the race needing only to finish fifth or better to win the Winston Cup. A first lap incident involving Rick Mast caused minor damage to Davey's car, and he battled through much of the race to stay in the top ten.
Though 1992 had been a heartbreaking year for Davey Allison and the Robert Yates Racing team in more ways than one, they had to be encouraged by their run for the championship. But 1993 opened on a sour note with Allison finishing 28th at Daytona. That finish was followed by a 16th at Rockingham, but Davey rebounded to win at Richmond the following week. The next race at Atlanta was delayed a week by a blizzard that blanketed much of the Southeast. Morgan Shepherd won the race and Davey finished 13th. He then posted an 11th at Darlington. Despite the early season struggles, Davey was sixth in the Winston Cup standings, while defending series champ Kulwicki was ninth.
Davey Allison had debuted in the International Race of Champions (IROC) in 1992, but his injuries forced him to miss the last two races.
Allison's livery style has been used as tributes by Ford (Robert Yates NASCAR Hall of Fame), Dr. Pepper / 7 Up Group (an associate sponsor of Allison in 1992 and 93), and Chevron (at least two occasions, primarily at Talladega, the Battlestar livery has been used as a retro livery). Most notably, Irvan put the 1987 Battlestar livery on the pole at the October 1997 Talladega race, much to the delight of fans.