You know, I've heard this - more often in the light of 'cops will see you more' - but I've never seen proof of it. I suspect it is an outdated thing, since newer cars are more likely to have things like daytime headlights, side lights, and multiple lights on the back of the car. I'm going to guess lights more than make up for the small gain in visibility.

Speaking from experience: it’s also more visible to the police...

Red also fades badly.