GM Wants $2.4 Billion in Canadian Aid for New Buick Regal

If you think domestic automakers are only hitting up U.S. taxpayers for help, go north of the border. Canada’s National Post newspaper reported today that GM is asking the Canadian government for $2.4 billion in aid. In exchange, it promises to bring a new Buick model — the Regal, which is already sold in China — to its Ontario plant for North American distribution.

Forgoing all the aid talk — the auto industry is just as vital to the Canadian economy as it is to the U.S. economy — the idea of a new Buick Regal based on the all-new Opel Insignia sedan sold in Europe is a great idea.

GM says it will position the Regal to compete with the Toyota Camry and Honda Accord, but doesn’t say what its new LaCrosse — set to debut in Detroit next month — will be positioned against. The Regal is just 4 inches shorter than the European car that the new LaCrosse is based on.

We’d guess GM could put a four-cylinder in the Regal and market it as a fuel-efficient sub-luxury car, while the LaCrosse would feature just V-6 engines and pack more luxury features. GM could then make the LaCrosse bigger in future years.

Why more Buicks? Well, if GM plans to scale back Pontiac and potentially shut down Saturn, there will be no G6 or Aura sedans to sell, leaving a hole in the marketplace. The new Insignia is getting rave reviews from the very harsh European press, as well.

If bailouts bring us cooler Buicks, maybe they’re not so bad after all. More pics of the Chinese Buick Regal below.

GM trying to charm Canada for aid (National Post)