Yes it is, all my cars(or almost) have it. Basically you just have to drop a reflection texture on its textures folder and the game will load it as main reflection for the paint, you can see it better on the SX4, which uses 3 or 4 different reflection textures for the different materials.
Anyways it can be done also with old mods, using some hex editing tricks which i'm too lazy to explain. lol
