The difference between front and rear ride heights, typically with the front lower than the rear. Rake affects aerodynamic balance by changing airflow under the car and can shift mechanical handling balance between understeer and oversteer.
Bentley defines it in Ultimate Speed Secrets: "The ride height is the distance between the road surface and the lowest point on the car. Often, this is different at the front than the rear. This difference is called rake — usually with the front lower than the rear. Adjustment of the ride height, particularly the rake, is used to tune the handling." McBeath's Competition Car Aerodynamics adds the aero dimension: the trials for optimal wing placement "were all conducted at zero rake and static ride height, and as both these parameters can significantly influence the aerodynamic balance," the actual on-track numbers may differ substantially. For cars with underbody aero (splitters, flat floors, diffusers), rake is one of the most sensitive setup parameters — a few millimeters of rake change can shift hundreds of pounds of downforce between front and rear.