Factual error: Before the final race, the first race car seen in background has rain tyres mounted the wrong way (the tip of the V is facing backwards).
Continuity mistake: As an introduction of the German race there are two shots of what should be Berlin, The first one really is Berlin but in the next shot you can see a bridge which is American, as well as an advertisement and a shop, also American.
Factual error: After the crash at the German race, there are some ambulances on the track. There are also some Volkswagen buses with the inscription "German Grand Prix" on it. First, the "German Grand Prix" can only refer to the Formula One Championship which is driven on the "Hockenheimring". Furthermore, there is no way a grand prix management would use such weak cars for cases of emergency at any kinds of races.
Continuity mistake: When Joe is showing off the "3 coin trick" he throws out a dime, then two quarters. When he is checking his tires to see if he picked up the coins, there are 3 quarters instead of 2 quarters and a dime.
Factual error: Throughout the movie the champion is referred to as the "World Champion". The title World Champion is only used for Formula One drivers. Driven is based on the CART series. The champion in CART is called the "CART Champion".
Factual error: In the German race there is an accident in which a car coming out of a turn crashes on another one and then it flies over it and lands in a normal position. In car races the track is higher on the outside than the inside on turns, so that the cars can stay on the track. So the car would not be horizontal but angled and when it crashed it should spin around itself instead of flying straight.