A Ferrari worth £500,000 was wrecked after the driver lost control and smashed into five parked cars.
Richard Cullen, 50, admitted driving without due care and attention and failing to stop to give his details after the crash.
A court heard the pest control boss was driving his red supercar at around 7.40pm on 25 May last year when he careered across the road.
He ploughed into five parked cars on Quarry Hill, off Hagley Road, in Halesowen, West Midlands. The 211mph luxury vehicle was discovered at the scene by emergency services.
The front end of the vehicle, which goes from 0-124mph in 6.7 seconds, was left a crumpled mess while bits of the car were strewn over the road.
Cullen, of Romsley, Worcester, was arrested later and initially denied any wrongdoing.
But he changed his plea when he appeared at Birmingham Magistrates’ Court sitting in Walsall, last week.
The court heard Cullen “lost control of the vehicle and veered into the opposite carriageway failing to correct the course deviation and collided into the front of a vehicle.”
A spokesperson for West Midlands Fire Service said: “Shortly before 7.45pm on Wednesday 25 May we responded to Hagley Road, Halesowen, where a car had been in collision with five parked vehicles.”
West Midlands Police initially launched a manhunt for Cullen after he fled the scene of the crash.
A spokesperson said: “Officers attended and found the vehicle had been abandoned and no injuries were reported to us.
“We made a search of the area and spoke to a number of witnesses but were unable to locate the driver.”
Cullen was arrested the next day at his home nearby.
He was bailed and the case was adjourned until February 27 when he will be sentenced.