The 20th International 500-Mile Sweepstakes Race was held at the Indianapolis Motor Speedway on Monday, May 30, 1932. Attrition is the story of the race, with 26 of the 40 cars dropping out due to crashes or mechanical failure. A record eight different drivers led laps during the race, with no driver seemingly able to hold the lead without experiencing some sort of trouble. For the third year in a row, Billy Arnold looks as if he will be the dominant car, but he sailed over the turn three wall on lap 59. Rookie Bob Carey also hit the wall while leading. Fred Frame took the lead for good on lap 152, and won from the 27th starting position - the furthest back of any winner except for Ray Harroun in 1911 and later, Louis Meyer in 1936. Frame was accompanied by riding mechanic Jerry Houck.