Ok I got to learn a few new tricks on this task using CorelDraw X5. All vector work from the ground up. I can see how you can really go deep with the details on a project like this. It was a fun learning exercise.
Sorry to bump an old thread, but...
I use corel ALOT. Attached is a small image of a timeline I created. It only covers up to 2006 as I havent had a chance to update it recently. But these are all 'templates' I created (Some are actual designs though)
The idea was to track how each car got better in appearance and detail. Partly due to skill, newer software, and sexier chassis developments over the years.
Also, I have a tutorial on how I use layering to develop my car illustrations. Its rough, but you get the idea. it's at
http://www.deviantart.com/download/30146843/vector_tutorial.jpg
This was all back when i was self employed/freelancing design. Though I still do similar work, and use these for sponsor renderings or illustrations with many of our clients.