The Olympics are already full of "sports" that don't fit in and shouldn't be there in my opinion, but I can't think of many that would fit less than motorsports.
Motorsport NO... Sim Racing YES!! That way you can make sure everyone has the same car, and costs will be very low. You can have separate events for GTE, GT3, Open Wheel, Prototype and also an Allround event for the most complete Olympic Sim Racer! And... I will start practicing 8 hours per day from tomorrow, so I can finaly realise my Olympic dream in 2020!
If it can be done in equal equipment, at minimal cost, and promotes a level that any spectator could get started in, then absolutely.
It would certainly end the "racing drivers aren't athletes" argument.
To be honest I've always been an advocate for motorsports being in the Olympics and a while back I came up with an idea for one. Olympic Rallycross. The host country makes a spec car that none of the countries can modify in anyway shape or form unless it's for repairs. The structure is similar to a traditional rallycross event with 24 drivers in races of four cars. Then the last 12 are in races of six cars each with the top 3 in each race in the finals. Unlike karting which is purely tarmac based you can rely more on the driver's instinct and skill and control due to the tracks consisting of tarmac and dirt. If you wanted to make it eco-friendly I'm sure it is possiible to develop hybrid or electric rallycross cars. To me this makes more sense than karting as it requires more driver skill. Can get the country's car industry involved plus it'd be exciting to watch it live. Who wouldn't wanna see Sebastien Loeb go up against Ken Block and Johann Kristofferson for an Olympic gold medal.
Leave the two separate. What I’d love to see is a World Cup of Racing every four years where every day for a month we would have two or three races per day using all the tracks in that country. Each nation could nominate a formula driver, a kart driver, a touring car driver and a stock car driver. Points would be tallied like medals. One can dream, right?
Sure, as far as I'm concerned, the more events the better. The great part of the Olympics is you get to see a sport every 4 years that you normally wouldn't/don't watch. I don't see the downside of adding karting.
But I'd be extremely surprised if it ever happens.