Wiktionary
n. (context motor racing English) A vehicle employed to lead the competitors in an auto racing for the duration of a few laps, with the intention of restricting their speed while a hazard exists on the circuit.
Wikipedia
In motorsport, a safety car or pace car is a car which limits the speed of competing cars on a racetrack in the case of a caution period such as an obstruction on the track or bad weather. The aim of the safety car is to enable the clearance of any obstruction under safer conditions, especially for marshals and/or await more favourable track conditions weather-wise.
During a caution period the safety car (which generally consists of an aptly modified high-performance production car) enters the track ahead of the leader. Depending on the regulations in effect, competitors are not normally allowed to pass the safety car or other competitors during a caution period, and the safety car leads the field at a pre-determined safe speed, which may vary by series and circuit. At the end of the caution period, the safety car leaves the track and the competitors resume normal racing. The first reliance on this safety measure occurred with the deployment of a pace car during the inaugural Indianapolis 500 in 1911.