Does Car Color Matter?

The BWT Formula One teams wants Aston Martin back its in iconic full pink livery due the current color (British Racing Green) does not 'stand out' on TV. BWT's

CEO Andreas Wessenbacher stated "Historically, the British Racing Green is certainly understandable for many, but not for me. The Aston Martin doesn't stand out on TV. "If Aston Martin wore pink, title sponsor Cognizant would also have more fun because the recognition value would be so much higher. Business-wise, it was wrong (To change Color.) "My biggest disappointment is that I have not yet been able to convince Lawrence Stroll to make the Aston Martin pink. Not out of selfishness, but out of pure reason, because a pink car simply attracts more attention and has a much more advertising effect."

With that said it leads to the question, "Does car color Matter?" Of course a pink car would stand out more than a dark green/black car, but is racing all about looks or is at about performance? If Aston Martin Mercedes did better on the track, finish wise (p6 Constructors / 44 points) then maybe the color of the car would not be brought up. Overall we have seen the paint schemes on the cars get more blander over the past several seasons, which could deter some sponsors due to the cars blending in. So it would interesting to see if Aston Martin will go back to wearing pink.