Yes, they are pandas. They are not considered a bear, though. They are more closely related to the raccoon and skunk. Red pandas where found before the Giant panda was.
Red Pandas are called Red Panda due to the color of their fur. Scientist have been going all around thinking of what animal class this animal should be in. Some say Racoons and others say Pandas. But...
Actually, red pandas aren't pandas at all. They are more closely related to small mammals like raccoons and weasels than they are to pandas. They are only named red pandas because they look similar...