Taylor was competing in the ute series and Carrera Cup, but missed both Porsche races after being taken to Bathurst Hospital.
Pending approval, Taylor expects to be released on Sunday afternoon.
“I just want to thank the staff at both the track and Bathurst Hospital, who have been amazing and world class,” said Taylor.
“I have broken ribs, a collapsed lung and some internal bleeding, but nothing too severe. I hope to be released today after further testing.”
The incident, which happened at the start of Saturday morning’s race, appeared somewhat innocuous.
Taylor hit the concrete wall on the driver’s right-hand side.
“It was a funny incident as we are still not sure what occurred,” Taylor explained.
“The impact was that hard that the engine mounts broke and everything internally moved including the battery, with the ECU wiping the camera such was the hit.
“The Ranger didn’t appear too damaged from the outside, but as it hit side-on. there was no crumple absorption, which inflicted the damage.
“You can’t hit a wall at about 140km/h square on the right-hand side and not suffer injury.”
Taylor said he hoped he might see some of the Bathurst 1000, assuming he is released in time.
The businessman is supporting Nash Morris in the Great Race, who is part of PremiAir Racing’s line-up alongside Richie Stanaway.
“I am thankful to have the best support from everyone and I am now focused on checking out of Bathurst Hospital to catch some of the race if the tests come through clear,” said Taylor.
“I can’t wait to get home to Rebecca Maddox and Indigo.”
The V8 SuperUtes Series concludes at Penrite Oil Sandown 500 on November 14-16.
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