Ironically enough Electric Motors are my specialty!!
The nitty gritty is in fact air density which effects ambient temperature, the thinner the air the less the cooling capacity, electric motors MUST have a set amount of cool air blowing over them to push the heat dissipating on the cooling fins of the body. The hotter a motor gets the less performance it has, the solution is oversize and de-rate to account for the power loss. The principal per EASA is a 3% de-rate per 1,000ft after 3,300ft ASL (above sea level).
Those little RC cars dont have much power in them for you to even notice that 3% loss per 1000FT even if you have a 1hp operating at 6,000ft with a 9% loss you would have roughly .93HP not nearly enough to visually notice. The other thing you have to factor is you live in Colorado and in Parker along where I live we are already above 3300ft ASL you already have losses that you are accustom to and dont even know it. The motors i deal with range from 100HP to 500,000HP so the de-rate and loss is very significant.
I actually just had two 450HP motors at Cripple Creek gold mine in Victor Colorado overheat and fail three weeks ago because the original engineer did not account for altitude, the demand on the machine they were running was 450HP but because they only gave them a motor capable of 450HP at the 10,000 ft ASL they were at (21% de-rate) the motor was actually only operating at 355HP thus the demand was forcing the motor to work harder to keep up, the motor will do what is asked of it so it works harder, hotter until something either goes boom or burns up.
Result I sold them two 600HP motors operating at 474HP @ 10000ft ASL. Good day for me bad day for them