'Drag Racer'?
Not strictly but drop the second word and you've got it!
Since you have included the right answer, "Drag", we'll call it solved.
Below are 2 pictures, the front view taken when the car was on display at Turin in 1970 and the rear sketch where you can see the name on the bootlid. I thought the name was on the front licence plate but you can't see it there; it actually says 'Moretti 128' but perhaps it says 'Drag' beneath '128'. In the rear view it also seems to call it 'America'; a slight case of schizophrenia I think!
