It was a Playstation exclusive and probably enjoyed peak popularity on the PS1 and PSP. I think Wipeout HD for PS3 is the best one, but it was almost definitely a fan service title.

Fast and Furious movies in the early 2000s made street racing and crash-based racing games more popular. So cross-platform games like the Burnout series succeeded, as did NFS:Most Wanted, where you had to outrun patrol cars in officially licensed supercars from Ferrari, McLaren etc.

On the underground side, NFS:Underground and the Midnight Club series were king.