I noticed this during NBCSN's coverage of qualifying this week. Check out the Santander logo on Alonso's wing mirror. Just a simple drop shadow, a really harsh one actually, but I think it works here pretty well.
I'm not sure how common drop shadows and other skeuomorphic design queues are in racing liveries. (Please share any examples please!) I've been doing it for a while now on all of my cars in Forza. I think more liveries need this kind of treatment.