The Model S actually doesn't do well on a track at all. Not because of any weight/handling issues (i'm actually not sure about how it handles), but because of overheating.
The electric motors can't dissipate heat that quick, and if the engines are run at "full throttle" for too long it will slow performance significantly to keep from overheating.
In reality this means you can't really complete a lap or 2 of most tracks.