Wow this is a great idea for the loop theme! I love the (16 bits?) sprites and the music and SFX perfectly fits!
However I asked myself what's the point in completing super fast the laps? Couldn't I just take the longest route going off road every time, so I do not have to rush for the following laps? Probably you could add some bonus/malus to push the player riding as fast as possible each loop?
Nonetheless, great job!
- gasper