Second one's better, but it's about 4/10.

You can draw, the car really looks like a car, it just needs some polishing. But the car outline should be bolder, and that font is really boring. It looks like you're trying to make it look more dynamic with the tilt. If that's the case the text shouldn’t really be inside the outline of the car because that makes the image look 'closed', going against the feeling of speed.

Try this:

Download a font from one of those free font sites and put the text into your photo editing program in vector mode so that you can tweak it.

Maybe if you filled the car outline with black instead of just having an outline it would look better.

you could try pixel streching the image to give off the apprerance of movemant

I acctually like the second logos shape (of the car) but I would definetly go with the first ones text (the horizontal one)and maybe do some kerning with the letterspace and align it to the far right

I'd have to honestly say that I don't like either of them. But, out of the two... I would go with the one on the bottom.

Not a fan of either to be honest..

Shrink the logo down and see if you can still make out what it is supposed to be.

A good logo should work regardless of size.