Nope.
I have said this a billion times, and I have been proven right already with the minor damage. It's not enough of a deterrent to stop anything. No one thinks about it. It's ethereal. Now, if damage were catastrophic, as in YOUR CAR IS DESTROYED AND THE RACE IS OVER, then maybe, but even then, there MUST be penalties to carry over to the next race.
Let's say you get a 5 second penalty. Those folks leave the race because they IMMEDIATELY recognize that their race is all but ruined. Heavy damage is an inconvenience that may, or mat not, affect you.
The goal of a penalty system is to penalize the offending drivers, not penalize everyone involved, or as is the case at the moment, penalize the victim or least of the offenders.