Up to my knowledge it is way less established than the Superbowl or Wrestlemania. My guess is that in Europe if you want to watch motorsports there's always Formula 1.
Presumably the greatest sport car racing in the world. In practice it's dominated every year by one of the top three teams and it has very low suspense.
(And yet I still watch it for I am nothing if not a sucker who got hooked in 1998 and can't be withdrawn , not unlike a cocaine addict)