There was a lot of speculation about how the new set of rules that debuted in this race would affect Ferrari, which were the ones to cause the changes after their dominant 2002 season.
Qualifying
Qualifying was an all Ferrari affair, with Schumacher edging out Barrichello. Montoya took third, with Frentzen, Panis and Villeneuve putting in good performances for 4th, 5th and 6th. The McLarens had poor qualifying, with Coulthard in 11th, and Räikkönen making a mistake, and ending up 15th.
Race
Weather conditions were changeable at the start. Räikkönen stopped for dry tyres at the end of the formation lap. Barrichello jumped the start, and would soon receive a drive-through penalty. Schumacher led at the end of lap 1, with Barrichello in close company. Montoya was 6 seconds behind in third, followed by Frentzen and Villeneuve. Panis went backwards on dry tyres, with the Renaults, Ralf Schumacher and Coulthard climbing quickly. Barrichello received his penalty, and on his in lap, lost traction on a quickly drying track, crashed at Turn Five on lap five, followed by rookie Ralph Firman, who had driven well on his dry Bridgestones to climb to eighth by lap seven. Schumacher dropped to eighth, pitting for dry tyres, with the leaders pitting just before a safety car. But then Mark Webber's Jaguar, lying an impressive sixth, broke its rear suspension and stopped in an awkward place, so came out the safety car again on laps 19 and 20. By halfway through, it was Montoya who was holding the front, followed by Kimi Räikkönen and Michael Schumacher. Renault's Jarno Trulli also fought closely until he went into the pits. Räikkönen had his turn leading the race until a drive-through penalty for speeding in the pit lane. After a wheel-to-wheel dispute with the Finnish driver, Michael Schumacher was forced onto the grass, consequently losing his right deflector, which despite not having great overall impact on the car's aerodynamics, barred him from closing on Räikkönen again and made him miss the podium for the first time since the 2001 Italian Grand Prix and ending Ferrari's 53 consecutive podium finishes. It was the first time since the 1999 European Grand Prix that neither of the Ferraris finished on the podium. When Williams seemed to have the first victory of the year in their pocket, Montoya spun after entering the first corner too fast, with eight laps from the end and without any pressure from his rivals. Montoya returned to the track, but lost first place to Coulthard, who won what turned out to be his last race victory. Montoya was visibly frustrated on the podium with this incident that, he admitted later, was totally his fault.
