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Hoping that I'm wrong.....
Some guessing here....from the photo it looks like the tops of the side mirrors are damaged as well, indicating significant sun exposure and perhaps acid damage. Many years ago, I worked at an industrial plant with large coal boilers. My car needed new paint after only two years of being parked there.
If the very obvious top damage is due to acid and sun exposure, then the fabric is weakened and may start forming holes and ripping. Color restoration won't fix that issue.
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