Usually that would sound like something not loading in the game, but there's some things I'd like to know...
Were all the objects still there, except purple? Did they retain their shape? If so, that sounds like some error causing the textures not to load.
BUT
From what I've seen, when GT5 doesn't load a texture, the engine coughs up a flat black texture, not a purple one (minor issues with Monza-Wet background and Tokyo loading).
Also, there should not be any difference with the surrounding...stuff...regardless of what view you're using, the distance between the cameras is tiny compared to the distance to everything else, so there's no real reason to change up any loaded models (and no framerate disaster that would indicate it).
Try it out again, if that doesn't fix it, then restart GT5. If that doesn't work, restart the PS3. Again, if that doesn't work, re-install the game.
EDIT: did the sky change colour at all? Did anything else around the track change colour? What about the interior of the car? Post a pic if you can!
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