When I tell people I do "automotive photography" for a hobby, they think "What?"
Automotive photography isn't well known, and there are so little who make a living out of it, either taking pictures for magazines, online websites and communities, or brochures.
To answer the question: Yes, it does exist, and it's a (very slow) growing community. It seems like wherever I go - a race, car show, meet, there's always people out there working with a camera, but never professionally (unless press).
I'd like to see this community grow bigger and bigger, and that's why I wanted to show you how much fun it can be!
You don't need a $700 camera to do the dirty work for you, all you need is a digital and some imagination. I'm posting these photos up for those enthusiasts out there who want to learn from others' photos. Placement of subject, working with the background, etc, comes from observation and therefore creates experience.
Feel free to upload your own photos but underneath the picture, describe what you did to make it look how it was (orientation/angle, lighting, post-processing) to help out with those enthusiasts.
Here's an example.
The Audi R8's headlights and fins are symbolic. Try and find what is special about the car and find ways to exaggerate it. I used angle to focus on the headlight. When you shoot diagonally from the car, it creates a fish-eye effect, rounding off whatever is away from the center. But, to get the true effect you'll need a fish-eye lens, this is only an imitation.
Here's an example of working with the background. Vignetting (shadows around the photo) frame the picture and keeps the viewer away from anything distracting. Unfortunately, that Saints Row 2 truck just HAD to be there. There was also some post-processing work done. Both cars were red, so I decided to make that stand out by flushing out all other colors. The clock tower in the background happened to be an orange/red shade which was luck on my part 
Again, vignetting was used to keep the viewer's attention on the subjects. Both cars were painted similarly and I wanted to retain that focus, so instead of working with the background, I attempted to keep focus on only the cars by using the ground,something very boring to the eye. And all those Nissan people, you know you get excited when you see 2 sets of circles on the back of a car (Dang Cobalts)
That's just some, I'll post more later if anyone is interested.