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Refered to as "rookie" stripes--the stripes could be different colors, or more than one, they used in racing when there were numerous cars of the same marque campaigned by different teams to help identify a teams driver/drivers. At least that is my understanding, Cobras weren't the only marques to have the fender stripe . Also heard it was used by some of the early racing associations here in the U.S. to identify new drivers until they were deemed qualified.
Some of the books on early racing have photos where you can see the fender stripe on Alphas, MG's,Triumphs, Porches as well as Cobras
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