I have had to match both the red and yellow on Lionel’s aluminum 21” inch 4 car set from about 2007 (SKU 6-31755). The red has a slightly orange cast to it, like your top picture. The best matches I have found come from Tru-Color paints, Chinese Red and something called Cat’s Whisker yellow. Now, Tru-Color also make “official” MKT red and yellow but they aren’t a match for the Lionel colors.
I have found out that the red used by other manufacturers is called Cardinal Red and it’s got very little orange tint in it. I think that the red used on Lionel’s 21” ABS cars is more like Cardinal Red but I prefer the Tru-Color versions. They are not cheap but do give good coverage if applied from an airbrush.