Despite how the Bobs usually react and what works for other tracks and races, I've found that the only thing that seems to work for Cote with the Bobs is to tell them to Overtake a lot.
It seems to "snap" them out of stupid mode, but I've also found that it seems to require that it needs to be done at certain places or else Bob will hit walls.
The important places are as follows:
1. As you're coming out of the first circular turn at the top of the hill.
2. After the downhill straight. (Basically when the first Overtake wears off.)
3. After the tight left-hand turn. Wait until you straighten out. (After the last one wears off.)
4. As your car straightens out from the chicane.
5. When #4 wears off.
6. When #5 wears off, but wait before going into the U-turn.
Your Bob will sort of snap to attention and generally not hit walls, if you do this. The other spots on the track are pretty safe and feel free to have Bob speed up or slow down depending on what you feel. I've found that pushing him (yes, I know that seems counter-intuitive for this track, but it does work) seems to work better than telling him to calm down and drive correctly. He will stay closer to the other cars and put him in position to pass.
Most likely the race won't be won until about the last lap or two, but you should be able to win. It might take a couple of tries, but it worked better for me than telling him to take it easy. I've seen him drive into a wall at his calmest, back into another wall, then hit the first wall again on the way out. The method I described prevented him, mostly, from hitting walls. It doesn't prevent him from making any mistakes, but it does seem to get him to focus a little bit more.