WheelSpin Studios have released Driving Speed 2, a free racing simulation for PC gamers. Driving Speed 2 comes with four different V8-powered vehicles that can be raced on two tracks against 11 AI opponents.
Multiplayer driving via LAN is also supported, your quickest laps can be submitted to the online world rankings to compare them with other players. One of the tracks seems to be Bathurst in Australia, all in all a very nice game very much worth checking out.