Motor sport competitor’s friend is right outside (8)

I believe the answer is:

rallyist

'motor sport competitor's' is the definition.
(participant in a rally race)

'friend is right outside' is the wordplay.
'friend' becomes 'ally' (synonyms).
'right' becomes 'rt' (abbreviation as in Rt Hon- the Right Honourable).
'outside' means one lot of letters goes inside another.
'ally'+'is'='allyis'
'allyis' inserted within 'rt' is 'RALLYIST'.

(Another definition for rallyist that I've seen is " Competitive driver".)

I've seen this clue in The Times.

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