I really like the ideas of the chop and the execution has been done quite well too. The colour change has been done well especially changing yellow to red, white and black. The wheel colour change also has been done nicely. The addition of the window mesh and yellow headlights also really adds to the chop.
The main issue with this chop is levels, you have added the fog effect which as made everything too white. If you look at the colour of the tyres in your chop compared to the original you will see what I mean. A quick edit to show you what I mean;
1 - If you bring the black point up everything gets darker which makes the car look better and really stand out against the foggy background.
2 - Doing step 1 made the white a horrible grey, so another small levels adjustment with a layer mask to make the white really pop as white.
With these 2 adjustments done though the chop looks a lot better and the red looks good (though maybe a little oversaturated). The only other issues I see is number 3 which I circles which I think is where you have cut the wheel out and it has left a sharp edge, you should have moved the front tyre rather than stretching it as it now looks off and finally, the front arch is a little pink compared to the rest of the car but a small colour balance adjustment might sort that out.
I have written a lot on the problems with the chop but they are small errors which can fixed quickly and easily
