I believe you have to add the R/T and the 1320 time to get the total that it uses to determine the winner. Your R/T must have been slow enough to make up for how much faster your car was, and gave him the win.

BTW, I did something, not sure what it was, but it put my Reliability back up to 100%. I THINK it was increasing to stage 3 nitrous, might have been 4 though. The only other thing I think I've done was request funds. A Tune Up would have cost