The first official test of the Dallara IR12 chassis was carried out by Dan Wheldon at Mid-Ohio on August 8, 2011. Phase I of testing involved Wheldon, and was planned to involve three road courses and three ovals, over a total of about twelve days. The second test was held August 18 at Barber, and the third was held on the USGP road course at Indianapolis on September 1. Oval tests took place in September at Iowa and Indianapolis. Honda (Scott Dixon) and Chevrolet (Will Power) began Phase II of on-track testing at Mid-Ohio in early October. A scheduled test at Las Vegas was cancelled after Wheldon lost his life in the 2011 race held at the track, resulting in Dallara renaming the chassis, a practice adopted from Ligier, which named its race cars "JS" for Jo Schlesser. Testing resumed in late October and continued through February at several venues including Sebring, Fontana, Homestead, Phoenix, and Sonoma. Lotus first took to the track on January 12 at Palm Beach, and testing by individual teams began on January 16. A full-field official open test took place on March 5–6 and 8–9, 2012 at Sebring International Raceway.
The Dallara F312 was designed to meet the new for 2012 FIA Formula 3 regulations, which were much more restricted compared to previous Formula 3 Regulations, and led to reduced downforce levels. Compared to the previous generation Dallara F308, the 312 features a higher monocoque and a lower nose-section than the outgoing model, with the front dampers and springs being placed inside the tub, a first for a Dallara F3 Car, alongside a revised Aerodynamic Package. The car was unveiled at the Masters of Formula 3 event on the 20th of October 2011 at Circuit Zandvoort, in the Netherlands.
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