If I remember my physics, 60 mph is 88 feet/second. NASCAR speeds are about 180 mph, or about 264 fps. Using a 1/6000 sec shutter speed, the car would have moved 0.044 feet (264/6000) or just a tad over a half an inch.(0.528 inch to be exact).
If the chain link fence was in perfect focus, then the car would be just slightly blurred due to motion. With both the chain link fence and the car both blurred, then your panning was not perfectly locked on the car. Panning just right is pretty difficult.
I guess given an estimated distance (from where you are sitting to the car) and the lens your using (focal length), we could determine the width of the frame (in feet), and then determine from that how many pixels a half an inch would be. I am guessing that it would be 100 pixels +/-, and 100 pixels or even 50 would still produce a reasonable amount of blur.
Panning is a very acquired art - hence I like to shoot very stationary objects - like landscapes.