Grip Races
Grip races are the most basic race in the game, involving completing two to four laps around a track. The best cars for this type of race are the Ford GT, Pagani Zonda, 911 Turbo and Nissan GT-R.
Speed Races
These are a sprint through a track, so it helps to use the fastest and most responsive cars you have available. Try to avoid jerking on the control stick, and stick to gradual steering movements to avoid crashing. The best cars for this are the Porsche 911 Turbo GT or the Lamborghini Murcielago.
Drag Races
Drag races are mainly about shifting your vehicle over a short length of track, either a 1/4 or 1/2 mile long. You also compete in "Burnout" mini-games before the drag races to heat up your tires. Your best options for this type of race are the Toyota Supra (942 BHP) or the Pagani Zonda.
Drift Races
The objective of drift races is to keep your car going sideways as long as possible, with the score being based on the car's angle, speed and time of the drift. The best cars for this are either the Mazda RX-7, if you've already won it from the Drift King, or the BMW Z4 M Coupe.