It won't 'cut', it's got the clear stuff over the red.
Bit of a bugger really, my 2004 (recently sold) was starting to show signs of fading, only thing I could do was a good coating of the coloured polish but even that didn't do much good.
I'm a big fan of red vehicles but the fact is the paint doesn't stand up to the sun / weather. My 2004 VW van is going the same way but at least I can 'cut' the VW.
A mate has a 10 year old Focus in red and it looks terrible, no chance of reserecting it no matter how much T-Cut he uses.