What is the name of the worldwide racing competition in Pixar's Cars 2?

The worldwide racing competition in Pixar's Cars 2 is the World Grand Prix.

Sir Miles Axlerod creates the event as an international series designed to promote Allinol, a new alternative fuel. The competition takes the racers to Tokyo, Porto Corsa, and London, giving the sequel a globe-spanning structure that differs from the American road-trip focus of the first Cars.

Lightning McQueen enters the World Grand Prix after being challenged by Italian Formula-style racer Francesco Bernoulli. Mater travels with McQueen and becomes entangled in a spy adventure involving British agents Finn McMissile and Holley Shiftwell. The racing plot and espionage plot eventually converge.

The World Grand Prix is fictional, although its locations and visual language draw on real international motorsport. It should not be confused with the Piston Cup, the fictional stock-car championship that dominates the first film and remains part of Lightning McQueen's racing history.