Gold Coast-based New Zealander Mark Porter, who died after a high-speed crash at the Bathurst 1000 meeting at Mt Panorama on Friday, was a talented driver who will be missed, Motorsport New Zealand (MNZ) said.

"He was a very talented driver, it's very sad and our sympathies are with his family," MNZ general manager Ross Armstrong told National Radio.

Porter, 31, died at Royal Prince Alfred Hospital in Sydney on Sunday afternoon after suffering serious head and chest injuries in a 180 km/h crash with David Clark during a second tier V8 race at Bathurst.

Two hours after the crowd celebrated Craig Lowndes's emotional victory and on the day they farewelled the late Peter Brock, Porter's family issued a statement announcing his death "with untold sadness".

Porter left behind his wife Adrienne and one-year-old son Flynn.

Armstrong said Porter's death, the fourth ever at Bathurst, happened despite all possible precautions.

"All the safety procedures were there, they're standard throughout the world. Motorsport is about people driving cars fast, but the safety standards and cars that are there are very high," he said.

Armstrong said MNZ had a very close working relationship with the Confederation of Australian Motor Sport (CAMS) and would be liaising with them over feedback from any investigation.

The news dealt a devastating blow to Mount Panorama on a day already high on emotion following the tributes to Brock who died in a rally crash in Western Australia last month.

Porter is the fourth driver to die at Bathurst, following Mike Burgmann in 1986, Denny Hulme in 1992 and Don Watson in 1994. Hulme had a heart attack at the wheel.

Porter's parents had flown in from New Zealand and were at his bedside with Adrienne and Flynn.

"The family wishes to convey their heartfelt appreciation for the efforts of the medical crews who have been involved all the way through - at the track, at the Bathurst Base Hospital and at the Royal Prince Alfred Hospital (RPA) and all of those who transported Mark between those facilities," the statement said.

"They gave Mark every chance at life, for which we thank them.

"The family also expresses their appreciation of the efforts of the officials of V8 Supercars Australia, all of whom have done their utmost to support all those involved in this tragedy."

Clark, 28, appears on the way to recovery and regained consciousness on Sunday after being taken to Nepean Hospital in Penrith in a critical condition on Friday.

The Adelaide father of three is breathing unaided and is recovering well from a punctured right lung and fractures to his pelvis, right arm and leg.

Tests have not revealed any significant spinal or head injuries.

Clark woke from his induced coma with his wife Leah, eight-month-old daughter Reese and parents by his bedside.

V8 Supercars Australia chief executive Wayne Cattach said a thorough investigation would be held into the crash.

Amid speculation on the cause of the crash, one driver said he noticed Porter's car had been dripping oil, which his rear tyres may have caught and caused his sudden spin.

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