It depends on the sport and your positioning and of course your camera/lens.
But for panning on corners I use a lower corner focus point, to get the front grill area. Back button focus, and track the car well before I'm shooting, and focus point expansion on the 7d, although that's not available on my older bodies.
The difficulty with rally cars/ drifting is that there's often more than one direction of movement, so you'll struggle to get a car completely sharp around a corner. But race cars should work fine.