I used to work in a photo lab back when pictures were taken on film (yeah, I'm old) and developed all the pictures for the local highway patrol office as well as the PD and Sheriff's office. I can't tell you how many times I saw fatal accidents involving young men doing stupid stuff. (And yes, I think young women are worse drivers, I just didn't see them killing themselves or others as much)
One accident that always sticks with me involved a HS senior and a female friend of his. Shortly after summer had started his dad had left for a few days, leaving his new Z06 behind. The two of them decided to go for a joy ride and he lost control of it on a 35 mph corner and hit a tree. I don't remember his speed at the time but the car was split in half and they both died. I still see the girl's mom from time to time and the look of permanent grief that she has is a painful reminder of teenage stupidity and immaturity.
To give a young person a powerful car is asking for trouble. Your kid might get lucky or might be more mature than his peers, but it's still a needless risk.