Blaster polish works very well on red paint. Never tried it on plastics. If you do go with the paint be certain it's all free of wax and scuffed.
Might want to try that in a place thats not obvious first. A glazing compound, or polishing compound might be something to try before a rubbing compound. I think turtle wax has a color wax for red.huh. Learned something new. Didn't know you could use rubbing compound on plastic. Thanks, I'll try that first.