Quick reply:

  • the osm2pgsql format is not designed for routing. It is intended mainly for rendering, but is a reasonable general purpose structure.
  • it can be used for routing using the pgrouting package, but is suboptimal
  • for a basic routing approach for motor vehicles I’d look at Graphhopper
  • there are some specific tools to build pgrouting databases in PostGIS from OSM data. I’ve used osm2po which I like because it has simple to understand configuration files