I think you can safely assume it's BS.
Assume the F1 car can drive at an average speed of 180MPh around the 'Ring (which in itself is a bit far fetched, but bleh).
180MPh / 60 minutes = 3 miles per minute.
The' Ring is about 13 miles long, so 13 miles / 3 miles per minute = a minimum possible lap time of 4.3 minutes.
(I know this uses a lot of assumption, but to pull off that lap time, you'd have to be driving at an almost constant 200MPh.)
So...BS.