Is a car with 241 horsepower turbocharged engine considered fast?

Yeah, it's ok. Consider this: A 2.5 Liter 4 cylinder turbo charged engine that put out upwards of 1000 HP. That engine dominated open wheel racing in the states for over 50 years. It's called Offenhauser.

"Fast" is relative. It really depends on what you compare it.

There are also several other factors to consider with the vehicles itself. Engine output is only one of them...other factors include the vehicle weight, gearing, and aerodynamics.

Normally yes, if it's not an american car, than you can speed it up to more than 150 mph.

It depends on who is doing the considering. I had a 1970 Lotus Europa with an 82 hp engine. Road and Track magazine did an article on that series (S2) and wrote, "It can outrun almost any street legal car anywhere except on open freeway or the Bonneville salt flats." Fast is not always assuming a straight line.

stick that engine in say a lotus body and you have a flyer ...that's because the body is light ....dont just look up bhp ..look up bhp per tonne