Halon used to be an agent of choice for vehicles initial attack where capacity was limited such as in cab extinguishers or automatic systems.
The fire service use water as they have an extremely large supply, they have full PPE, can stay a safe distance at first & can take their time - they are just putting ot a fire in an empty car most of the time. They will use the spray & fog settings on their branches as well as jet. also when well alight, the majority of a car falls into Class A, where water is the best.
However tactics will alter dependant on the circumstances & crews will use foam or the appliances DP extinguishers if indicated.
In motorsport you are facing a life safety (occupant) risk where time is of the essence, have only limited amounts of extinguishing media & are generally responding to a fire caused by crash or catastrophic engine failure where there is a greater risk of a running Class B fire from fuel leaks, whereas a lot of street car fires are arson. In this circumstance you need the rapid knockdown & high mass for mass capability of DP followed by the post extinguishment security of foam blanket.
If you have limited media such as portables or trolley/skid mount, especially with a life safety risk then a DP knockdown (ideally by high performance BC agents such as Monnex or Purple K, but cost is an issue so a high MAP content ABC is a good second best) first is best, AFFF being good for security (unless a PSV where it is mandatory instead of powder as powder isn't good to discharge in a bus full of people).
If time, supplies & life safety are less of a worry then you can throw a lakefull of water at it - even if there is a fuelspill, small shallow spills can be taken out with water fog - but I'd have the AFFf tank & inline inductor ready just in case...