power output of an engine is expressed as its torque multiplied by its rotational speed of the axis. Internal-combustion engines produce useful torque only over a limited range of rotational speeds (typically from around 1,000–6,000 rpm for a small car). The varying torque output over that range can be measured with a dynamometer, and shown as a torque curve. The peak of that torque curve occurs somewhat below the overall power peak. The torque peak cannot, by definition, appear at higher rpm than the power peak.
Basically if you make Torque at low RPM's that means you can launch the crap out of your car and get moving very quickly. If you make your torque at higher RPM range then you wont move as quickly until you get to that rpm range. Torque is very important and is as important as HP when your talking about racing. Generally the larger then engine the more torque it makes. And I mean cubic inches not cylinders.