Undercoat or repaint wheel well?

I just looks like the rubberized undercoating in the wheel well is starting to come off to me revealing the paint underneath.
Yes agree I thought it was only on one side that is what made me believe something could be leaking.looks like battery terminal corrosion.But if you look closely and study it I agree especially now he tried to remove with no success.
 
Maybe road paint? Very weird would love to know what that is.
 
THERE IS NOTHING LEAKING!!!!!!!!!!!!!!!!!!!!!!! What you see is the factory applied udercoating wearing off due to age and abrasion from road debris slinging from the tires, which in turn is showing the paint underneath! Remove the plastic liners, scrub and clean the area thoroughly, let dry, scuff with a RED scotch brite pad, re-clean with a wax and grease remover, and then mask and re-coat with RUBBERIZED undercoating (or if you want extra protection apply one of those do-it-yourself truck bed liner coatings instead).
 
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