my guess is that it's PSed. If you are able to blow up the pic, you can see additional pixelation all around the guy that you dun see anywhere else in the pic.
When this car is running at high speed, the reaction of a man is fright. From a human being standpoint, this picture looks fake as he seemed to remain calm and even focus his camera lens into the car. However, if this car was reversing (highly unlikely) or just spinning it wheels on a raised platform, I believe it could be real. If it was staged, he need not stand so near to the car.
common sense will say its fake unless proven otherwise, so i choose to say its fake, i saw a compilation of such clips, where all the people are near the racing cars be it on road or mud tracks..haha looks abit exaggerated, a pity i dont know the link already