2 strats which I found from running this game.

1: You can safely retire from 3 races, a 4th race may require RNG to be on your side.

2: Pressing Start and Quitting the race after winning will save a second or two. That would save you around 14 seconds or more.

Also I know I did Jeff Gordon dirty in the phoenix race, that's what happens when you mess with THUNDER! KA-CHICKA! KA-CHICKA! Say it with me. Ka-chicka! Ka-chicka! Ka-chicka!"