No problem using it all the time... I prefer and use sport mode everytime I drive.. sport mode adjusts the accelerator sensitivity, steering feel and shift points... enjoy..

 

No problem from a pure mechanical standpoint. However keep in mind that if you accelerate faster all the time, you will likely wear your car out quicker, regardless of what mode you are in.

 

Sport mode changes the shift points which means two things. Your fuel economy will suffer in trade for better performance. Tires may wear faster but it will be negligible unless you really are the kind that accelerates hard from a dead stop. That's it. The transmission will not be worn out any faster in sport mode that it would be in normal mode and no, the engine should also have no issues revving a bit higher between shifts..

 

You won't be able to use 7th gear is all.