The 5th Cape Grand Prix was a motor race, run to South African Formula One-style rules, held on 2 January 1962 at Killarney Motor Racing Complex, Cape Town, South Africa. The race was run over 60 laps of the circuit, and was won by British driver Trevor Taylor, in his Lotus 21.

1962 Cape Grand Prix
Non-championship race in the 1962 Formula One season
Race details
Date	2 January 1962
Official name	V Cape Grand Prix
Location	Killarney Circuit, Cape Town
Course	Permanent racing facility
Course length	3.312 km (2.058 miles)
Distance	60 laps, 198.71 km (123.47 miles)
Pole position
Driver	Jim Clark	Lotus-Climax
Time	1:28.4
Fastest lap
Driver	Jim Clark	Lotus-Climax
Time	1:29.1
Podium
First	Trevor Taylor	Lotus-Climax
Second	Jim Clark	Lotus-Climax
Third	Jo Bonnier	Porsche

There were no great differences between the local rules to which this race was run and the international Formula One rules, but for example sports car bodies were permitted, such as the Porsche special driven by Jennings.

The race was dominated by Taylor and Jim Clark, and they swapped the lead several times during the race, after Jo Bonnier had led for the first three laps. After Clark spun, Taylor was able to keep the lead for the last ten laps to take the victory.

Local driver Vic Proctor's homebuilt car with its Alfa Romeo engine was deemed unraceworthy by the race organisers, and was excluded before Proctor set a time in practice.^[1]