The red has properties for wheel bearings or things that are spinning and hi revolutions. As a kid working as a machinist in my uncles auto parts store. We always put the red on the axles when we press them in. Although with these buses you're not going to get over 90 mph .on a daily basis. Thers chasis grease and wheel grease . They are different . But whatever you find ,an all purpose grease would probably be good protection for years to come. Heres a great explanation . https://www.etrailer.com/faq-grease.aspx
Castrol stopped calling it LM it is now called just multipurpose grease. Still suitable for wheel bearings. Basically you need Lithium based high melting point grease such as linked to by 3901mick Castrol or Comma multipurpose grease. Definitely not a Moly grease.
In the end I have gone for a Comma heavy duty lithium grease as that is what the local motor factors had in stock.
C'm on. £5 isnt enough for a 50 gram tube of Westfalia bearing grease (2 needed per bearing) If you do the front bearings you need nearly none at all but the rear bearings need about a third of a proper tin each.. And when you go in there and you find the grease is a sort of brownish opaque rust colour rather than a rich amber like brown its worth stripping it down and checking as crumbling balls and rollers and races leave rusty deposits in the grease. I found one front bearing was really pitted through finding discoloured grease. I could barely tell it was going from the sound of it or by wobbling but three rollers were pitted .