Embodying the ultimate in style, an older model car (8)

'car' is the definition.
(DeLorean is a make of car)

'embodying the ultimate in style an older model' is the wordplay.
'embodying' indicates putting letters inside (to embody can mean to contain or include).
'the ultimate in' suggests the final letters (take the ultimate ie last letter).
'model' indicates anagramming the letters.
The final letter of 'style' is 'e'.
'an'+'older'='anolder'
'anolder' anagrammed gives 'deloran'.
'e' inserted inside 'deloran' is 'DELOREAN'.