There’s more than one problem with this.
First, if you teleport the object ten times a second, it will move at 10 fps. This is not going to look great.
Also, if you teleport the object, it won’t run physics for things like bumping into rocks, running up ramps, etc.
Finally, your “speed” movement isn’t multiplied by the delta time of the time step, so it will move faster at a higher tick rate, for the same speed.
So, to build a vehicle, there are three general approaches: Use Chaos vehicles, or roll your own physical simulation, or just force the vehicle to move along a track like a train or cable car.
I recommend using the Chaos vehicle setup if possible, because that already has gas/brake/steering/engine/gears all set up, and you can tech up your chassis and models in the editor.
If you want to roll your own, you should probably build it as a blueprint with a box collider for the chassis, and four cylinders for the wheels, and then some kind of physics constraints/springs to keep the wheels in the approximate right location – typically, these will spring up/down like McPherson struts, but be locked in the sideways movement axes. Then drive the vehicle by applying torques to the wheels to make them spin.
If you want a rail experience, it’s probably easier to just animate a timeline or spline for the vehicle to move on, and use the animation system of your choice to lock it to that spline.
In each case, the position update will happen every tick, either through the physics simulation system, or through the animation rendering system, and thus the movement will be smooth.