If pannels and transformers are subject to vehicle traffic do bollards or a curb need to be installed to prevent this? Keep in mind the pannels and transformers are inside a paint/body shop.

Protection for the panels and transformers is required if they are danger of being hit.

Why would vehicles inside a body shop be considered traffic?

Yes... Bollards, curbs, a wall, a room, guardrails, etc.
110.3(A)(8)... 110.26(E)... 110.27(B)
Of course the Electrical Code mentions dedicated spaces and guarding, but it's the
The insurance provider that could cost you the most if you don't.

I'm sure square footage is viewed as most valuable so this question I expect comes from a discussion (or argument) of the legal requirement for guarding. Yes, a guardrail will take up space but a small accident (especially with moving cars) can ruin your day...