The most common and most likely answer to this crossword clue is the 4 letter word TYRE
I've seen this crossword clue in The Guardian
T
Y
R
E
More clues leading to the result TYRE
- Rubber ring in polystyrene
- Port item subject to inflation
- Old city dictator's flag
- Feature of car in Middle East port
- Port making one weary, we hear
- Tread on this very tender part, recoiling
- Feature of car used in hasty retreat
- Rubber cushion for bore that’s outspoken
- Port, in difficulty, relocates
- Covering for wheels, wheels in delivery truck
Buddy explains!

The straight part
We know that "Car component" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case car component = tyre.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does TYRE mean?
TYRE noun- The ring-shaped protective covering around a wheel which is usually made of rubber or plastic composite and is either pneumatic or solid.
- The metal rim of a wheel, especially that of a railway vehicle.
- To fit tyres to (a vehicle).
- Curdled milk.
- Attire.
- To adorn.