Depends on circumstances.
First some Words. Alloy for metals simply means that the rims aren't made of a single substance.
Strictly speaking even steel Wheels are Alloys since steel is an alloy of iron and coal, and small amounts of other stuff.
"Alloy" Wheels are inacurrately used to describe Wheels usually made of Alloys mainly consisting of Aluminium or Magnesium.
Rims made of aluminium Alloys usually end up a bit lighter than steel rims.
For the same amount of horsepower, a lighter Wheel will spin up and slow down faster than a heavier Wheel. So it can make the car accelerate faster and brake faster. For a bendy course, it can make the car faster. But since it doesn't influence Rolling resistance, it doesn't influence top speed as such.
Given enough straightaway to accelerate on, alloy or steel Wheels will give the same top speed.
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