force = mass * velocity.
if you reduce the mass then you reduce the force. running a steel 6cyl might be rather unsafe, but an aluminum or ceramic 2 or at most 4 cylinder engine, or a tiny wankel rotory engine, and you have a car that could potentially weigh less than 500 lbs.
Force does NOT equal mass * velocity. You are thinking of momentum. Force = mass * acceleration. And it doesn't matter a goddamn if the force exchange has been reduced by 75% if the material shear yield strength has been reduced by the same amount. For my money, it will be reduced quite a bit more than that unless they are much further along on composite research than they were last time I checked.
Fiber composites have generated a lot of hype with their extremely strength-to-weight ratio. They are very light for how strong they are... in a particular direction! Fiber composites normally have their fibers woven into a pattern which maximizes tensile yield strength in one or two directions. If you load that composite in the wrong direction, if you are loading across the fibers rather than along them, the material is only marginally stronger than the epoxy (or whatever resin is used) matrix, which is to say "not at all."
Further, as I already pointed out, fiber composites do not flex well. They do not dissipate much energy in deformation. They just snap. I'll grant you my exposure to composites is mostly several years old, but I am not making this stuff up. I ran tensile tests on carbon fiber composites as part of my lab requirement for Structure and Properties of Materials. They are great if you load them only in tension in the direction they were designed to be loaded, but their strength is very directionally dependent. Shear strength is a sick joke. Guess which matters more in a car wreck?