Note: This is a new feature series in which Eric Smith of INDYCAR.com compiles a power rankings after each NTT INDYCAR SERIES race, a list of who he thinks are the top-10 drivers at that point of the season. These are his rankings after The Thermal Club $1 Million Challenge, a non-points special event March 24 at The Thermal Club near Palm Springs, California.

↑10. Marcus Armstrong (No. 11 Ridgeline Lubricants Chip Ganassi Racing Honda; Last Rank: NR)

The Kiwi was the quickest qualifier among the five-driver Chip Ganassi Racing organization, 10th, at the season-opening Firestone Grand Prix of St. Petersburg presented by RP Funding. A crash relegated him to last place. He showed more speed at The Thermal Club qualifying, and finished second in his heat race and fifth in the 20-lap main event.

↓9. Scott Dixon (No. 9 PNC Bank Chip Ganassi Racing Honda; Last Rank: 7)

Dixon had a quiet season-opening weekend on the streets of St. Petersburg. He was 12th and ninth, respectively, in the pre-qualifying practice sessions, qualified 11th and finished the race ninth. At The Thermal Club, Dixon failed to make the main event due to an avoidable contact penalty from hitting Romain Grosjean in the opening turn of their heat race. Dixon is six-time NTT INDYCAR SERIES champion and had 16 top-seven finishes in 17 starts a season ago, including three wins over the final four races. His average finishing spot over the final 11 races in 2023 was an eye-popping 3.36. That’s why he can’t fall outside the top 10 yet.

↓8. Will Power (No. 12 Verizon Business Team Penske Chevrolet; Last Rank: 5)

Power began the 2024 NTT INDYCAR SERIES season strong. He was fourth and third in the prequalifying practice sessions for the season-opening Firestone Grand Prix of St. Petersburg presented by RP Funding. He gained four spots in the race, charging from an eighth-place start to finish fourth. At The Thermal Club, the two-time series champion set the second-quickest time in the combined four-session test. The racing, however, got away from him. Power failed to advance to the 20-lap Sprint for the Purse.

↑7. Alexander Rossi (No. 7 Arrow McLaren Chevrolet; Last Rank: 9)

Rossi ended the 2023 season with three top-seven finishes over the final four events and began 2024 by finishing eighth in the season-opening Firestone Grand Prix of St. Petersburg presented by RP Funding. At The Thermal Club, Rossi advanced to the main event, finishing seventh after a spicy duel with Josef Newgarden. He set the fifth-quickest testing time among the four combined sessions around the 3.067-mile, picturesque road course near Palm Springs, California.

↔6. Colton Herta (No. 26 Gainbridge Honda; Last Rank: 6)

Herta led the charge for the entire Honda camp in St. Petersburg, ending up eighth and first in the pair of prequalifying practice sessions and qualifying his No. 26 Gainbridge Honda fourth for Andretti Global. He was the top Honda finisher for that race in fourth. Last weekend at The Thermal Club, Herta placed fourth in the 20-lap main event. For the test sessions on the California road course, Herta was 13th, ninth, eighth and seventh, respectively.

↓5. Pato O’Ward (No. 5 Arrow McLaren Chevrolet; Last Rank: 3)

O’Ward finished runner-up in the season-opening Firestone Grand Prix of St. Petersburg presented by RP Funding. While he missed out on competing in the main event at The Thermal Club, he can’t slide too far down. He was second in his qualifying group Saturday before the team rolled the dice by not sending him back on track for the final minute after a brief red flag. Other teams elected to do one more lap, and those better times dropped O’Ward seven spots in the lineup, fading to a ninth starting spot for the second heat race Sunday. He gained two spots back in the race to finish seventh but fell just shy of being in the sixth and final transfer spot. The bigger picture is St. Petersburg, where he was second and fourth in practice and third in qualifying, and finished runner-up that weekend.

↓4. Josef Newgarden (No. 2 Hitachi Team Penske Chevrolet; Last Rank: 1)

If O’Ward isn’t dropped too far in the rankings, Newgarden can’t tumble, either. While two-time series champion Newgarden finished eighth in the 20-lap main event Sunday at Thermal, two weeks prior he was in a different ZIP code in St. Petersburg. On March 10, Newgarden led 92 of 100 laps in the season-opening Firestone Grand Prix of St. Petersburg presented by RP Funding. In addition, winning by 7.9121 seconds and scoring the NTT P1 Pole Award on the St. Petersburg streets, he can’t fall below fourth.

↑3. Felix Rosenqvist (No. 60 AutoNation/SiriusXM Honda; Last Rank: 8)

Rosenqvist’s speed appears legitimate this season with Meyer Shank Racing. If it continues, it’s a matter of time before he wins. The Swedish driver was fourth in the preseason test at Sebring International Raceway. Rosenqvist backed that up by being quickest in the opening NTT INDYCAR SERIES practice session of the season in St. Petersburg. A day later, he broke the track record in the second round of the three-round knockout qualifying format and qualified on the front row, in second place. Rosenqvist finished seventh in the 100-lap race. At The Thermal Club, Rosenqvist was quickest in his qualifying group Saturday to net the pole for the opening heat race. He led all eight laps to secure a heat race victory Sunday. Then he placed third in the 20-lap main event.

↔2. Scott McLaughlin (No. 3 XPEL Team Penske Chevrolet; Last Rank: 2)

McLaughlin remains second following The Thermal Club $1 Million Challenge. While Scotty Mac hasn’t led a lap in 2024, he’s been among the most consistent performers. McLaughlin improved six positions in the season-opening Firestone Grand Prix of St. Petersburg presented by RP Funding, climbing from ninth to third. Then he followed with a runner-up finish around the 17-turn, 3.067-mile road course in the main event at Thermal. McLaughlin has produced five podium finishes in his last nine starts dating back to last season. Being the top Chevrolet points scorer from 2023 and having 12 consecutive top-10 finishes places him among the elite.

↑1. Alex Palou (No. 10 DHL Chip Ganassi Racing Honda; Last Rank: 4)

Hard to ignore Palou’s dominant performance at The Thermal Club. The Spaniard was never passed on track, leading all 10 laps in his heat race and then all 20 laps in Sprint for the Purse with a margin of victory of 5.7929 seconds. Both wins came from the top starting spot. In the four test sessions around the 3.067-mile road course, Palou was first, first, second and 10th, respectively. The reigning NTT INDYCAR SERIES champion made a statement. Sunday’s result was his 20th consecutive top-eight finish, including seven wins and 12 podiums. While the event didn’t count in the box score, his dominance gives him the nod to the top.