It sounds like it might be "NASCAR Racers":

http://en.wikipedia.org/wiki/Nascar_racers
http://imdb.com/title/tt0236915/

Thanks! "NASCAR Racers" sounded right--the time, the source (Saban),
the title...but unfortunately, apparently no. The show I'm remembering
was computer-animated, and "NASCAR Racers" wasn't; and it had a Dr.
Doom-style villain, which "NASCAR Racers" didn't. Someone else has
suggested "Reboot," and I found some episodes of it to watch; it had
the CGI, and the Dr. Doom villain, but if that was it, it must have
changed farther along.

What I'm remembering--and this may have been only in one episode, or
one run of episodes--is the heroes being a team of racers, like the
NASCAR racers, doing exhibition stunt driving for a crowd of
spectators on a big loop-the-loop track in a "Mad Max" desert setting,
and the Dr. Doom character being out to sabotage them, he hopes with
the help of one of their number, a kind of Wolverine character whom
he'd created or mutated and who had left his service to join the good
guys; and there was a cliffhanger as to which way he'd decide. Either
he or one of the other characters had an Australian accent, and may
have been black; and there was also another Australian character at
some point. I only saw the show for one season, and as I remember, it
ended in the middle of a story.