The new Peugeot 508 will replace the previous large family car Peugeot 407 and is termed as the future family car. It will also replace the Peugeot 607, which is even larger. This is because there are no immediate plans for replacing this car with a similar one, so the Peugeot 508 will have to fill its shoes for the time being.

The Peugeot 508 will have many similarities with the Citroen CR, which is also being produced simultaneously with the Peugeot 508 at its plant in Rennes-La-Janais. These two cars will have the same platform and almost all the engine options will also be similar. Peugeot will look to capture a greater market share with this twin launch.

The primary reason for replacing the Peugeot 407 is its increasingly decreasing market share in 2008 and 2009. Peugeot is desperate to regain its leadership position in this segment and with the launch of Peugeot 508 it hopes to be able to do so. The new model will be longer than the previous model by almost 5 inches (12 cm). It will also have a number of additional features in order to woo the buyers. Moreover, in terms of looks it has been given a major up enhancement as well. It has been marketed as a family car and with a longer size it will be more comfortable.

It will be unveiled in Paris during the motor show later this year as a concept. There have been several leaked spyshots of this car initially but the definite pictures were available on the web earlier this month.