.lwo isn't loading with materials

I have downloaded an car in .lwo format and enabled the lightwave addon in Blender but when I import the .lwo model the textures are not on the vehicle. Is there a way to get blender to load the textures on the car?

I thought I would try to select the cars individual car objects and try to load the textures, but in the outliner when I expand the model to see the different parts the parts seem to be “joined” together with the other body parts. Is there a way to load a .lwo with textures?

If anyone knows where I can get a good quality “free” formula 1 cars that will load into Blender (with textures) I would be appreciate it.

Thanks.

No idea about LW, but you got a nice F1 car to start with on blendswap