Carter 3016
 

OK I HAVE A ? ON MY SECOND BUGGY IS A CARTER 3016,.
DOES ANYONE HAVE ANY IDEA HOW I CAN MAKE THIS BUGGY ANY FASTER..
IT HAS A PULL START MOTOR AND ITS 195 CC's..

also does anyone know what this lever does.. here is a pic
Attachment 1568

That's the throttle control when this engine is used on something else like a snow blower when you set the throttle to one position.

Not much you can do to that kart to get more speed without spending big bucks (racing engine)-Cheapest thing you could do is reduce the tooth count on the wheel sprocket or increase the the tooth count on the clutch.

so the less teeth on the axle sprocket the faster it will go correct.....?

Correct-you'll only be able drop a few teeth without seriously effecting torque.If your main driving is on flat/level surfaces then you won't notice a lag in take off too much.