The number of small sophisticated wireless sensors which share the electromagnetic spectrum is expected to grow rapidly over the next decade and interference between these sensors is anticipated to become a major challenge. In this paper we study the interference mechanisms in one such sensor, automotive radars, where our results are directly applicable to a range of other sensor situations. In particular, we study the impact of radar waveform design and the associated receiver processing on the statistics of radar–radar interference and its effects on sensing performance. We propose a novel interference mitigation approach based on pseudo-random cyclic orthogonal sequences (PRCOS), which enable sensors to rapidly learn the interference environment and avoid using frequency overlapping waveforms, which in turn results in a significant interference mitigation with analytically tractable statistical characterization. The performance of our new approach is benchmarked against the popular random stepped frequency waveform sequences (RSFWS), where both simulation and analytic results show considerable interference reduction. Furthermore, we perform experimental measurements on commercially available automotive radars to verify the proposed model and framework.