What are you playing?

[Vipershark]

yes
BUT
there is an extremely easy to do glitch that allows you to get a different car (with guns on it) into the race, allowing you to shoot your opponent's cars
damage is still counted in this mode, so you can easily blow up opponent cars
when they blow up, they are taken out of the race
basically you kill all the opponents with the supercar and then finish the race
as soon as you cross the finish line, get out of the car
the game will count the win as the car you originally selected
start the same race with a different car
when the race loads the supercar will still be there at the finish line
get out of your car and go get in the supercar
kill everyone and finish the race
get out
counts for the second car
rinse, repeat with every car and track, thus allowing you to get Street Racer and Street Racer Elite quickly and easily.

It's what I'm doing right now. Extremely easy.