From Destinypedia, the Destiny wiki
The Pike is a single-occupant hovercraft-like vehicle used by the Fallen. The vehicle has a pair of small Arc guns on either side near the front capable of rapid-fire for a short time. Guardians can pilot the vehicle, although the driver will have to be dispatched first.
Pikes have the ability to boost and to barrel roll. This, in combination with their fast speed, makes them a nimble and highly maneuverable weapon in a fight. Unlike Sparrows the boost will eventually wear out and take a moment to recharge.
It may sound like a rusted junk, but it moves like a shark, swift and fast, lightning crackles in the engine, Fallen deploy these for harassing enemies or as patrols. They can be easily repair and put into use as well, They are also made from scavenged parts, making them unpredictable.
There is even an event called “Pike Racing”, which is a dangerous game as anything goes with weapons hot. Lots of casualties and money involved. Even interesting prizes are involved including unique Sparrows, though at times the bids can be swindled with individuals taking cuts of bets and organizing most of the events with securities, clean ups, etc..
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