Peugeot 508 axed in Australia

The 2024 Peugeot 508 sedan and 508 sportswagon have been dropped from the Australian market in the wake of woeful sales, with just 58 examples having been delivered this year as of August 31, making a 58 per cent sales downturn.

Launched back in 2018, the stylish mid-size 508 was never a hit with local buyers, to the tune of only 840 cars being sold in almost six years – a figure comprehensively humbled by the Toyota Camry which chalked up 933 sales in August 2024 alone, despite the looming generational change.

As part of a massive restructuring, Peugeot Australia has already announced it’s dropping all plug-in hybrid models – of which the 508 was one – from its line-up and will slow the roll-out of EVs amidst cooling demand.

The radical rethink and dropping of the 508 follows sister brand Citroen’s decision last month to quit Australia altogether, after 102-years of continuous sales Down Under.

It’s not yet known just how many 508s remain in stock nationally, however they’re not expected to last all that long given MY24 sedans are on special from $59,990 drive-away instead of the usual $81,610 plus on-road costs, with similar deals in place for the sportswagon.

Australia is far from the first right-hook market to lose the 508 – Peugeot HQ previously announced the 508 would be pulled from the UK market as of December.

Join the conversation at our Facebook page
Or email us at editor@carsales.com.au