Panning shots...
2nd is better than the first. Looks like you matched the speed of the cyclist a bit better than the car. The cyclist being closer to the camera makes the background have more blur and the bit of blur on the legs tell us he is pedaling.
The car being farther away and less separated from the background has less blur in the background. And the car being slightly motion blurred detracts.
Headed in the right direction?? Yes.
You are headed in the right direction. Your composition is great, leaving room for the subject to move into. Your shutter speed might be a bit slow. My panning work is done at the track, where my subjects are moving faster than taxis or cyclists. I normally shoot at 1/125 +/-. Here's a shot from 2 weeks ago showing a bit of blur.
View attachment 119769
Good first attempts. What shutter speed are you using? Practice makes perfect.