OK, if that's an actual official request, then: Yes, it is correct: a RICERCAR is a fugue (a typically-intricate musical composition) and that term tends to be used especially for particularly elaborate ones. And a RICER CAR is a car that has been blinged up with go-faster stripes and spoilers and things in the hope of making it go faster or at least look faster.
(or I suppose you could take RICER = crudely enhanced -- I think the term can be used attributively, you could have a ricer bike or something -- + CAR = vehicle, and so regard the second half as a charade)
(the "seriously" comment was addressed specifically to @Randal'Thor who I know is a mathematician as well as interested in wordplay and the like, and therefore right in GEB's target audience)
I believe there are two alleged etymologies for "ricer", one derived from "riceburner" and one a silly acronym ("race-inspired cosmetic enhancements"). I guess the offensive one is the real origin and the other one is an attempt to make it sound less racist.
@GarethMcCaughan I don't like how a lot of the media commentary on Trump takes the form of things like "ha ha, look at him, he's got funny hair". If you want to criticise the guy, criticise his political views and policies. It's not as if there's a shortage of things to criticise there.
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But this isn't really the right place for that conversation anyway.
@Deusovi I was mostly wondering if you could clue a bit in reverse, by saying what you need to do to it to get to the word in the clue, rather than the other way around