Fastest lap

In motorsport, the fastest lap is the quickest lap run during a race. Some series, like A1 Grand Prix and the GP2 series, award bonus points to the driver/team with the fastest lap. Formula One awarded one point to the driver that set the fastest lap until 1960. 
In Grand Prix motorcycle racing, which includes the 80cc, 125cc, 250cc, 350cc, and 500cc/MotoGP classes, no point is awarded for the fastest lap. Giacomo Agostini holds the current record for the most fastest laps with 117. Valentino Rossi, who still actively races in MotoGP, is in second place with 83 fastest laps.
Formula 1.
In Formula One, 120 different drivers have made fastest race laps. German driver Michael Schumacher has made the most number of total fastest laps with 76. He is followed by Frenchman Alain Prost with 41 and by Finnish driver Kimi Räikkönen with 35. Argentine Juan Manuel Fangio and Brazilian Nelson Piquet both had 23 fastest laps, the most for South Americans.