I can’t get behind property seizure without compensation, but I can understand everything else.

Even if they said “you can’t have this car any more, but can sell it from our facility” that’d be better I think

Normally me neither, bit in this context where you are driving so recklessly you are endangering everyone else and we are talking over double the speed limit I’ll allow it. Noone has any rights left when you are doing that kind of stuff deliberately.
@TDCN This makes sense in principle but living in the US where as of last year cops confiscated more property than was lost via burglary, I don’t trust the authorities not to abuse such a law.