This is the non-mechanical version in the colour normally used for the 203M model. A rare item, indeed. Whether these were just made accidentally from time to time or, after the decision to stop making M models, there was a batch already painted red to which the tin plate bases were then attached, is anyone's guess.
This example is well worn, with quite a bit of the red paint missing but it is all original and does have decent, clear windows and a rust-free base. The wheels are good and this does have the silver additions to the bonnet.
Almost certainly there will be a space in your collection where this needs to go. At least until a better one comes along!