Yes.
Starting Page 25 describes how to put car numbers into channels as well as assigning multiple frequencies to car numbers. By turning on/off channels you an listen to the cars your want. By using the scan/search mode you can scan for new frequencies. By recalling preprogrammed frequencies you can build car lists that include specific cars with pit and trackside crews. These operations can be combined to create custom race settings so that you can listen to only specific things or cars or everything.