correct, molded from foam and shaved, kit car makers make their wide body kits from strips of a foam, no styrofoam either, and usually its a DIY guy, they hand lay the mat fiberglass and allow to dry and sand while curing.
I myself will try something for my front end, i can get the foam, just need a place to shape it. then I can make a mold and make one from there.
But yes, overall BIG PITA. Watch how they make surfboards, not much different is my guess.