Increasing vehicle performance requirements and virtualization of the development process require more understanding of the physical background of tire behavior, especially in transient rolling conditions with combined slip. The focus of this research is the physical description of the transient generation of tire lateral force and aligning torque. Apart from tire force and torque measurements, two further issues were investigated experimentally. Using acceleration measurement on the tire inner liner, it was observed that the contact patch shape of the rolling tire changes nonlinearly with slip angle and becomes asymmetric. Optical measurement outside and inside the tire has clarified that carcass lateral bending features both shear and rotation angle of its cross sections. A physical simulation model was developed that considers the observed effects. The model was qualitatively validated using not only tire force and torque responses but also deformation of the tire carcass. The model-based analysis explained which tire structural parameters are responsible for which criteria of tire performance. Change in the contact patch shape had a low impact on lateral force and aligning torque. Variation of carcass-bending behavior perceptibly influenced aligning torque generation.