30's NOT a racecar...but what?

I'm having trouble figuring out what this little car is? I've been told it's not a racecar due to the chain drive and license plate on the rear, but what is it? The picture was taken about 1931 in El Paso, TX. Can anyone tell me more?

 

Put that on the auto racing 1894-1944 thread and you'll probably get a fast answer!

 

Anybody out there? Somebody's gotta have a clue on this one.....come on HAMBers....

 

Don't know what it is. But isn't that the kid on the E-trade TV ads?

 

I don't know about that particular car but I've seen plenty of old photos of early Daytona beach racing cars that were chain driven.