With your offroad car, the type of speed controller depends on what's under the board that we can't see.
If it's microswitches then it'll just be off and on, activated by servos with forward & reverse handled by the different microswitches.
If that's what you've got then it's working fine.
Mostly this setup was used on 1:10 scale indoor on-road electrics because on and off as about all you needed from the throttle; they handled like they were glued down with tracks made from carpet, and foam tyres!
However, from the look of it I think you have a resistor type.
If you have resistors under there then it's a type known as a "Bob's Board" or a wiper board. Should be 3 speeds, forward & reverse, IIRC.
If that's the case then it isn't working properly and the resistors might be burned out, otherwise it might just be corrosion or a loose contact at the "wiper". If you have a meter, check the resisitance at each stage of throttle, you should see 3 steps with virtually zero at full throttle. The resistors are dirt-cheap and easy to solder in, otherwise treat yourself to a new Bob's board (if you can still get them) or remove it and put in a cheap electronic speed controller.