|}
Warm-up
The drivers took to the track at 09:30 Central European Summer Time (UTC+2) for a 30-minute warm-up session in clear weather. Coulthard was third quickest, and Michael Schumacher completed the top four, one-tenth of a second behind Ralf Schumacher. Alonso spun at the Sudkurve corner and skated across the gravel trap towards the tyre barriers. Trulli's engine failed exiting the Ostkurve corner during his third lap and he parked his car onto the grass before returning to the pit lane ten minutes later to drive the spare car. Not long after Zonta made contact with the tyre barrier at Sudkurve turn in the stadium section after spinning into the gravel. Alonso struck the tyre barrier sideways close to Zonta. As all 22 drivers were preparing to begin the formation lap, Alonso and Marques began from the pit lane due to fuel leaking from the refuelling values. Alonso drove the spare Minardi car with Marques using his teammate's repaired vehicle.
Both Williams drivers maintained first and second entering the first turn. Further back, Michael Schumacher slowed due to his gearbox selection fault that prevented him from shifting out of first gear and he drove in a straight line in the middle of the circuit. This resulted in drivers being required to swerve to avoid Schumacher. Burti struck Schumacher's right-rear wheel and went five feet into the air. He barrel rolled to the right, over the top of Bernoldi's vehicle, struck the ground and landed upright after rolling. Schumacher's car was on the middle of the circuit. FIA race director Charlie Whiting deployed the safety car before he red-flagged the race because of the hazard of tyre punctures at high speed as the field entered the first turn to start the second lap. The safety car driver had reported the plethora of sharp carbon fibre composite strands that were scattered across the track that drivers had to drive around and marshals were needed to remove the debris. Both De la Rosa and Heidfeld retired from the race. As the drivers completed lap one, Montoya led Ralf Schumacher by 1.4 seconds, who was followed in turn by, Michael Schumacher, Häkkinen, Barrichello, Coulthard, Räikkönen and Irvine. Trulli slipstreamed Panis before spinning at the Ostkurve corner trying to reclaim ninth. He fell to 17th. Räikkonen slowed on track with a driveshaft failure but returned to the pit lane to retire that same lap, while Irvine retired with fuel pressure problems. Barrichello finished in second 46.1 seconds behind, the attrition rate was high, with ten of the twenty-two starters finishing the race. Barrichello said that he was "happy" with finishing in second and revealed that before the race he believed that he would finish no higher than third. De la Rosa admitted to making an error by braking earlier than usual and said that he would apologise to Heidfeld after underestimating how close the latter was.
Montoya left the circuit without speaking to journalists. BMW Motorsport's technical director Mario Theissen surmised that the two starts and Montoya's delayed pit stop causing the engine temperatures to rise likely caused Montoya's engine failure. Williams technical director Patrick Head was unhappy with the refuelling rigs supplied by the Fédération Internationale de l'Automobile (FIA). One of the rigs was sent back to manufacturer Intertechnique who found no system faults.
After the crash between himself and Burti on the first lap, Michael Schumacher said that although he saw Burti in his rear-view mirrors, he did not know which line he wanted to take and he could not take avoiding action because of his gear selection problem. Coulthard questioned the decision to stop the race by saying: "Accidents or injury off the track is not normally a reason to stop the race. There's lots of races that would have benefited from being red-flagged to give people a show." He also said he felt consistency was needed but accepted that the organisers had the final say on stopping a race. Michelin Motorsport Director Pierre Dupasquier agreed with the FIA's view and stated he was concerned about cars hitting the strands of debris and catching a puncture.
The race result saw Michael Schumacher retain his World Drivers' Championship lead over Coulthard. Race winner Ralf Schumacher, on 41 championship points, moved to third and Barrichello's second-place demoted him to fourth.
Race classification
Drivers who scored championship points are denoted in bold.
{| class="wikitable sortable" style="font-size: 85%;"
|-
! scope="col" |
! scope="col" |
! scope="col" | Driver
! scope="col" | Constructor
! scope="col" | Tyre
! scope="col" class="unsortable"|
! scope="col" class="unsortable"| Time/Retired
! scope="col" |
! scope="col" | Points
|-
! scope="row" | 1
|align="center" | 5
|data-sort-value="SCH2"| Ralf Schumacher
| Williams-BMW
|
| align="center" | 45
| 1:18:17.873
|align="center" | 2
|align="center" | 10
|-v
! scope="row" | 2
|align="center" | 2
|data-sort-value="BAR"| Rubens Barrichello
| Ferrari
|
| align="center" | 45
| +46.117
|align="center" | 6
|align="center" | 6
|-
! scope="row" | 3
|align="center" | 10
|data-sort-value="VIL"| Jacques Villeneuve
| BAR-Honda
|
| align="center" | 45
| +1:02.806
|align="center" | 12
|align="center" | 4
|-
! scope="row" | 4
|align="center" | 7
|data-sort-value="FIS"| Giancarlo Fisichella
| Benetton-Renault
|
| align="center" | 45
| +1:03.477
|align="center" | 17
|align="center" | 3
|-
! scope="row" | 5
|align="center" | 8
|data-sort-value="BUT"| Jenson Button
| Benetton-Renault
|
| align="center" | 45
| +1:05.454
| align="center" | 18
| align="center" | 2
|-
! scope="row" | 6
| align="center" | 22
| data-sort-value="ALE"| Jean Alesi
| Prost-Acer
|
| align="center" | 45
| +1:05.950
| align="center" | 14
| align="center" | 1
|-
! scope="row" | 7
| align="center" | 9
| data-sort-value="PAN"| Olivier Panis
| BAR-Honda
|
| align="center" | 45
| +1:17.527
| align="center" | 13
|
|-
! scope="row" | 8
| align="center" | 15
| data-sort-value="BER"| Enrique Bernoldi
| Arrows-Asiatech
|
| align="center" | 44
| +1 Lap
| align="center" | 19
|
|-
! scope="row" | 9
| align="center" | 14
| data-sort-value="VER"| Jos Verstappen
| Arrows-Asiatech
|
| align="center" | 44
| +1 Lap
| align="center" | 20
|
|-
! scope="row" | 10
| align="center" | 21
| data-sort-value="ALO"| Fernando Alonso
| Minardi-European
|
| align="center" | 44
| +1 Lap
| data-sort-value="21" align="center" |
|
|-
! scope="row" data-sort-value="11"|
| align="center" | 12
| data-sort-value="TRU"| Jarno Trulli
| Jordan-Honda
|
| align="center" | 34
| Hydraulics
| align="center" | 10
|
|-
! scope="row" data-sort-value="12"|
| align="center" | 4
| data-sort-value="COU" | David Coulthard
| McLaren-Mercedes
|
| align="center" | 27
| Engine
| align="center" | 5
|
|-
! scope="row" data-sort-value="13"|
| align="center" | 20
| data-sort-value="MAR" | Tarso Marques
| Minardi-European
|
| align="center" | 26
| Gearbox
| data-sort-value="22" align="center" |
|
|-
! scope="row" data-sort-value="14"|
| align="center" | 6
| data-sort-value="MON" | Juan Pablo Montoya
| Williams-BMW
|
| align="center" | 24
| Engine
| align="center" | 1
|
|-
! scope="row" data-sort-value="15" |
| align="center" | 1
| data-sort-value="SCH1" | Michael Schumacher
| Ferrari
|
| align="center" | 23
| Fuel pressure
| align="center" | 4
|
|-
! scope="row" data-sort-value="16" |
| align="center" | 23
| data-sort-value="BUR" | Luciano Burti
| Prost-Acer
|
| align="center" | 23
| Spun off
| align="center" | 16
|
|-
! scope="row" data-sort-value="17" |
| align="center" | 17
| data-sort-value="RAI" | Kimi Räikkönen
| Sauber-Petronas
|
| align="center" | 16
| Halfshaft
| align="center" | 8
|
|-
! scope="row" data-sort-value="18" |
| align="center" | 18
| data-sort-value="IRV" | Eddie Irvine
| Jaguar-Cosworth
|
| align="center" | 16
| Fuel pressure
| align="center" | 11
|
|-
! scope="row" data-sort-value="19" |
| align="center" | 3
| data-sort-value="HAK" | Mika Häkkinen
| McLaren-Mercedes
|
| align="center" | 13
| Engine
| align="center" | 3
|
|-
! scope="row" data-sort-value="20" |
| align="center" | 11
| data-sort-value="ZON" | Ricardo Zonta
| Jordan-Honda
|
| align="center" | 7
| Collision
| align="center" |15
|
|-
! scope="row" data-sort-value="21" |
| align="center" | 16
| data-sort-value="HEI" | Nick Heidfeld
| Sauber-Petronas
|
| align="center" | 0
| Collision damage
| align="center" | 7
|
|-
! scope="row" data-sort-value="22" |
| align="center" | 19
| data-sort-value="DEL" | Pedro de la Rosa
| Jaguar-Cosworth
|
| align="center" | 0
| Collision
| align="center" | 9
|
|-class="sortbottom"
!colspan="9"|
|}
;Notes
- – Fernando Alonso and Tarso Marques started the race from the pit lane.
|}
;Constructors' Championship standings
{|class="wikitable" style="font-size: 85%;"
|-
! scope="col" |
! scope="col" |
! scope="col" | Constructor
! scope="col" | Points
|-
|align="left"| 10px
| scope="row" align="center" | 1
| Ferrari*
| 124
|-
|align="left"| 10px
| scope="row" align="center" | 2
| McLaren-Mercedes*
| 66
|-
|align="left"| 10px
| scope="row" align="center" | 3
| Williams-BMW*
| 56
|-
|align="left"| 10px
| scope="row" align="center" | 4
| Sauber-Petronas
| 19
|-
|align="left"| 10px 1
| scope="row" align="center" | 5
| BAR-Honda
| 16
|-
!colspan=4|Sources: