it's not just cheap tyres, but also proper pressures (at least occassionally checked).
About 5 years ago I bought a used MX5 from a dealer, picked it up on Nov 5 and was a fun drive home in the dark & wet with fireworks. It just felt skittish... a couple days later it was tipping it down, going around a 2 lane roundabout in rush-hour traffic to suddenly have the rear drifting out - was a decent brown-trouser moment. Decided to check the tyres and they were all decent make and tread - but all 12-15psi over the recommended. For some surprise, it was dramatically safer as soon as I reset the pressure.
I had an MX-5 for 6 months before I spun it on a very wet roundabout. They can be quite snappy for a sports car aimed at the masses. This was before they started fitting them all with traction control though.
Also saw a guy spin one on roundabout on the way to work not long ago
