First I click Image > mode, and select grayscale. This will remove all colors from the photo. Now go back to image > mode, and select RGB color. Use the airbrush tool, set for multiply. You can use the history brush to put the background color back.
To get more precise color adjustments use the Polygon Lasso to select just the car body (minus windows, lights & trim). You can then either use the Hue/Saturation settings to adjust & colorize the current color, or like Fett said but better, use the Desaturate option to remove the color from just the body. Then play with the Hue/Saturation settings with Colorize checked.
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