Wheel covering involved in hasty retreat (4)
I believe the answer is:
tyre
'wheel covering' is the definition.
(I've seen this before)
'involved in hasty retreat' is the wordplay.
'involved in' indicates the answer is hidden within the clue.
'TYRE' is hidden in the letters of 'hasty retreat'.
(Other definitions for tyre that I've seen before include "Wheel's rubber tube" , "Lebanese city" , "Pneumatic wheel cover" , "Rubber wheel rim" , "Ring made of rubber" .)