This past year, Toyota and Subaru teamed up to produce a next-generation affordable sports car that has met with resounding sales and critical acclaim. The Toyota 86/Scion FR-S/Subaru BRZ is lightweight, rear-wheel drive, and comes with a six-speed manual transmission. Best of all, it starts at around $25,000, making it very appealing to younger drivers.

Seeing how people reacted to the ToySciBaru, GM and its Australian subsidiary are gearing up to produce a rival…one we think will blow the ToySciBaru out of the water.

CarSales.com is reporting that just such a project is under consideration by the GM brass, and could be based on the all-new Alpha platform.

GM would most likely seek inspiration from the well-received Code 130R concept that debuted at last year’s Detroit Auto Show. That rear-drive four-banger concept looked a lot like a mini-Camaro, and basing it on the Alpha platform would give it access to a slew of GM engines, including the new 2.0 liter turbo making 270 horsepower. Compared to the ToySciBaru’s paltry 200 horsepower, a turbo Code 130R would be nearly unbeatable.

That said, GM is keeping its hopes realistic, targeting sales of between 3,000 and 5,000 units per year. Then again, Toyota and Subaru are selling every one of their lightweight racers they can get their hands on.

If GM does this right and learns from Toyota and Subaru’s missteps (like no turbo option), they could absolutely decimate the import boys. We’d love to hear your thoughts on this.