I own a Toyota Corolla 2009 and the paint on hood is chipping. My Corolla is red. I recently seen another 2010 Red corolla with the paint chipping in the same area on the hood. Is this a defect in the paint?
No, this is normal wear and tear on a 9-10 year old car that has actually been driven.
If you want to keep the car looking good and those chips from rusting, touch the chips up with auto touch-up paint available at auto parts stores and over the internet. Comes in a small bottle with a brush inside.
If there are a lot of chips, a product called Dr. ColorChip is a good product to use. Search for it on the internet and read up on it.