I've not shaped Coroplast, but rather have questioned and speculated whether that is practicable.
On one hand, its dual-wall structure is designed to be flat and stiff but light, by separating the two facings. The interior void also makes it a thermal insulator.
On the other hand, it is plastic that was made in an an extrusion process, and most plastics can be reshaped when properly heated. Given dual facings and insulative nature of Coroplast, even heating on both sides would be critical.
That said, suppose you are making an undertray and could use flat Coroplast over the entire belly of the car, except for a couple of spots where suspension or exhaust parts extend below the horizontal plane of the rocker panels. Normally, you have to cut a hole in the Coroplast to fit over the low-hanging obstruction. If Coroplast can be blistered, you could make a teardrop-shaped dent in it to clear the obstruction, yet still be streamlined. Using a plywood template with a teardrop cutout, clamped to the Coroplast, and heating locally it from both sides, it could presumably be pushed or sucked/blown into the teardrop blister.
Basically, this stuff is two dimensional and wants to stay that way. Modifying it into three dimensions will take some effort. OTOH, Plexiglass nd Lexan have been converted from two dimensional sheets into three dimensional bubble canopies for fighter planes, for decades.
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