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You're trying so hard to be good to him. This car would hurt him and your relationship with him.
A) It's almost guaranteed that a kid will at least back into a tree with their first car. It's called learning. Are you OK with that being the car he puts the huge dent in, or would you rather he crush the fender a $2000 car?
B) sports car + kid = drive "sporty"
Driving "sporty" + kid = ICU
C) what life lessons about how to achieve your dreams does he learn by being handed a new car? He needs to learn how to earn. Dad could MATCH what the earns, or provide a clunker for him to drive to work so he can learn to earn.
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