Wall was sixth with just four minutes to go in the 45-minute race when he crashed out of the Porsche Curves.
The team owner-driver was able to walk away from the crash but keeled over the tyre barrier moments after extricating himself.
The yellow flag was drawn before the race was red-flagged, bringing a premature end to the contest.
Matt Stone Racing Supercars co-driver Cameron McLeod was classified as the race winner.
Due to the red flag, the result was taken from a lap prior to the accident, meaning Wall was classified sixth.
Hadrian Morrall was the third-best Australian in 28th overall and ninth in the Dark Horse Legends class.
Australian-based New Zealand driver Tim Miles was on course for a podium in the Dark Horse Legends class before he was stung for a race start infringement.
Miles was forced to complete a drive-through penalty, finishing 30th outright and 11th in class.
Andrew Miedecke was 32nd in the Team Anzac entry after he had six seconds added to his time for speeding in a slow zone.
Tony Quinn was 35th. Australia’s other interest, Keith Kassulke, failed to finish after he stopped on the Mulsanne Straight on Lap 2.
RESULTS: Mustang Challenge Le Mans Invitational Race 1
Race 2 of the Mustang Challenge Le Mans Invitational gets underway at 4:45pm AEST on Saturday.
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