I think the way you would relate to this is by saying "long live Spain" because Spain's official national language is Castilian Spanish and Spanish is used in this context e
and also by saying "long live honest commerce" because no one would want to trade with a dishonest person or buy goods and services from someone who is most likely to rob you because they are dishonest
Not sure about the imperfect tense but to answer the first part
el coche era grande y rojo
