Physics is affected by scale. A person jumping off a building takes longer to hit the ground than a lego man falling off a box at the same relative scale. If your scale is huge, it will make your physics appear in slow motion. Check how many units your car is long (ideally 4 or thereabouts).
Time step / Time Scale. Both found under Settings -> Time. They will affect the overall speed of your simulation, but it's worth playing around with these and the forces applied to your car.
Have you tried altering global gravity anyway? What undesirable behaviour (if any) does it cause elsewhere?