Gripping is a term invented by drifters to pretend their form of motorracing has any credibility in the big bad world.

Or something like that.

Oh... @AcesHigh:
Drifting is the act of moving off the intended or initial line of movement.
The meaning of the word in autoracing is simply 2 or 4 wheels drifting away from the line the car is moving on.

In the drift community, "grip" is a synomym for "real", for example, a reference to "grip" racing, means "real" racing as opposed to drifting.