offensive slang A typically light and fast car or motorcycle manufactured in an East Asian country, especially Japan. Often used derogatorily, the term is typically considered racist for its use of rice as a stereotypical representative of such countries (where it is a staple food). A: "Check out the rice rocket with the huge spoiler." B: "A rice rocket? That's a bit politically incorrect, don't you think?" My old Mustang can go toe to toe with the fastest rice rockets out there.