To provide a paint composition capable of forming a coating film having a small graininess, having high flip-flop property, and having excellent chipping resistance and adhesion. According to the present invention, there is provided a paint composition including a hydroxy group-containing acrylic resin (A), a hydroxy group-containing polyester resin (B), an amino resin (C), and a titanium oxide-coated light interference pigment (D), which has an L*15 value of 100 or more and an L*110 value of 65 or less, wherein the solid content of the hydroxy group-containing acrylic resin (A) is in the range of 20 to 60 parts by mass, the solid content of the hydroxy group-containing polyester resin (B) is in the range of 10 to 50 parts by mass, the solid content of the amino resin (C) is in the range of 5 to 40 parts by mass, and the solid content of the titanium oxide-coated light interference pigment (D) is in the range of 3 to 25 parts by mass, relative to 100 parts by mass of the total solid content of the hydroxy group-containing acrylic resin (A), the hydroxy group-containing polyester resin (B), and the amino resin (C).