No, the rear pod and the chassis are connected by a T-bar. The front end is really very nice from HB straight out of the box. But you can easily change it to a Associated type or new gen X CRC type front suspension or as said above, the IRS low profile front arms.
Another thing you DO want to change are the M4 bolts that hold down the front suspension. Metric screws have little thread to "bite" into the plastic parts. I changed them on my C12 with a set of imperial screws from Associated. Also, the small carbon plate where the disc-damping plates are between. You can put 2mm spacers underneath it so that this plate sits a little higher (also put a 2mm spacer under the center-post). This will create more motor space towards the front and will prevent the motor from touching the damper-disc.
The centershock is one of the best I have seen in 12th scale. It works like a charm.
All in all, the C12 is a very competitive car BUT you will need to make some changes to the car to make it even more competitive. Yes, that will set you back somewhere between $50 - $100 but then the car is long lasting race ready. If your race-demands are not so high you can drive it box-stock...