yes. the car does a wheelie. if you want to know how to do this, soften your suspension, put as little downforce on the front, max at back, and your car should wheelie at about 270 mph
Found very easily via the magical use of the Search function and the arcane search string of "GT-ONE wheelie". Give it a go and see what you can dig up.
Front Spring Rate and height at maximum.
Rear Spring Rate and height at minimum.
Rear Spoiler to maximum, 0 on front.
Change Gearing to max speed (300mph+ is a minimum!!)
Boost power to stupid level, go on test course and pop a wheelie. The easiest car I've found to do it with is the Nissan R89C. 👍