I've noticed when playing that later on in the levels, if you use your missiles or bombs too often, the orange car rubber banding effect takes place. Try to out race your opponents in the first few laps and save your items until you really have to use them, as long as you've picked up some of the upgrades (that acceleration one). But, its fun just bombing the cars at the start of the race (esp. that Orange car).
Like some others mentioned, picking up the letters is crucial (there's a few in the later levels that seems impossible to grab). Try to get all the letters for the 1st upgrade in each level but there's a few you can skip later on if you know you'll fall victim to an oil spill crash.
On a side note, I always thought the bombs looked like a cast iron egg skillet.
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