No, it is not. Indy is a colloquial proper noun, an abbreviation for the city of Indianapolis, Indiana. An "Indy car" is a type of racing car for auto races as nominally held at Indianapolis Motor Speedway (who hold the trademark).
*NOTE: the spelling "indie" is the slang term used for independent filmmaking.
Indy stands for independant
Indy the dolphin died from water pollution poor indy i miss her
The cast of The Indy - 2013 includes: Clay Thorsteinson as The Indy
Indy car
Indy Rishi is 6'.
Indy Randhawa is 6'.
Depends on which Indy you are talking about: 1) Indiana Jones 2) Harrison Ford 3) Indy movies
Starbase Indy was created in 1988.
Indy Barends was born in 1972.
Maserati Indy was created in 1968.
Indy Selvarajah was born in 1978.
Edmonton Indy was created in 2005.