Grand Mal Caesar
It's ALIVE!!! Shoot it again!
That's a rear wheel drive car. He was trying to keep it straight. That side to side action before he lost it was him not getting the hint to lay off the gas. I'm thinking he was trying to chirp the tires but had too much traction on the left rear tire. At the beginning you can see the car twitch to the right twice and correct both times. Then he gooses it and spins out.It looks like he tried to initiate a drift, as he steers side to side sharply before full acceleration.
If it were attempted drift to look cool gone wrong, or purely an accident, he is a daft twat either way.