To drive extremely quickly in a rubber-wheeled vehicle, especially a car. A reference to car tires which, if accelerated too quickly on pavement, can heat to the point of producing smoke and tire tracks. We're going to be late for the party, let's burn rubber!
Drive very fast, as in We'll have to burn rubber to get there in time. In this bit of automotive jargon, the rubber refers to tires that heat up when they rotate suddenly at great speed. [Slang; mid-1900s]
tv. to run a car engine so fast that one spins the tires so that rubber is left on the street. (see also lay (some) rubber.) When George was at the age when the greatest thrill was burning rubber, he began to shave once a week.