I vote for the Timeserts also... these look like an updated version of Threadserts.... the standard fix on the head/jug stud hole in millions of aircooled aluminum VW bug blocks.

Note that these (Timeserts) might require a counter bore if you need them flush with the surface you are dealing with.....

So part of the question is whether you will have this item out of the vehicle so that you can use a drill press.