Stellantis looks beyond SUV era with new Peugeot 408
Reuters
Published Jun 21, 2022 10:08PM ET
By Gilles Guillaume
PARIS (Reuters) - Peugeot (OTC:PUGOY), one of Stellantis' French brands, unveiled its new 408 model on Wednesday, betting the "fastback" sedan will attract motorists suffering from sports-utility vehicle (SUV) fatigue.
SUVs have been hugely popular in recent years in Europe, reaching a record 46% share of new sales in France in May, the same level as traditional sedans.
But Peugeot believes their ubiquity has created a yearning among some drivers for more originality.
"(Some Peugeot 408 customers) wish for a more original and innovating style than a compact SUV, which they deem too common (...)", it said in a statement.
Fastbacks are known for a single slope from the roof to the rear of the vehicle, as seen for example on the Ford Mustang.
So the new 408 is much lower and longer than Peugeot's 3008 SUV, with a flowing and aerodynamic line giving it a distinctive silhouette that sets it apart from mainstream models.
However the new car, which will be built in Mulhouse in eastern France, does have some popular SUV characteristics such as a high ground clearance, big wheels and black plastic covering caps on the fenders, the sides and the rear shield.
The 408 will be launched early next year in Europe and in China by mid-2023, where it will be assembled in Chengdu.
It will initially be equipped with petrol and hybrid petrol-electric engines before switching to a fully electric version.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.