People like being able to accelerate quickly… Both for vanity and for practicality. They also like driving large, heavy cars. Again, for both practicality and vanity. They also like cars that get pretty good fuel efficiency. So the cars have to be very powerful in order to accelerate quickly, but they also have to be very aerodynamic. Having a lot of power and very low drag means that they can also go very high speeds.
Most cars are electronically limited to much lower than their functional top speed for a number of practical and safety reasons.
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