The 508 made its international debut at last year's Paris Auto Show, where it was shown in both sedan and Touring wagon form. Both bodystyles will be available from launch when the 508 goes on sale in Australia, along with the GT performance sedan.
“Not only will the 508 be priced very competitively against its traditional European rivals – with all the luxury and refinement expected in its class – but it will bring a host of smart technologies that quite literally elevate the art of car making to a whole new level," Peugeot Australia Director and General Manager, Ken Thomas said.
The 508 range will be available with a range of turbo petrol and HDi diesel engines, although specific technical details - and pricing - will be revealed closer to launch.
One engine confirmed for the local 508 range is the 1.6 litre e-HDi turbodiesel engine, on sale from September.
The small engine is pegged as the 508's ultra-efficient variant, producing 83kW, releasing 114g/km of CO2 and using just 4.4 l/100km of diesel.
Internationally, the 508 is also available with a 115kW 1.6 litre turbocharged petrol engine, through to a 152kW HDi turbodiesel.
A Hybrid4 variant is also in the works, although launch plans for this model are still to be confirmed. Peugeot has confirmed that the diesel-electric powertrain will produce around 150kW, sending power to all four wheels.
The Australian International Motor Show opens at 6pm on Friday 1 July and runs through until Sunday 10 July at the Melbourne Convention and Exhibition Centre.
Other new models and concepts confirmed for the 2011 AIMS include the Toyota Prius V and Prius C, the Suzuki Swift S-Concept, the Range Rover Evoque, the Toyota FT-86 II Concept, the 2012 Audi A6 and the 2012 Jaguar XF.
Appearances have also been confirmed for the all-new Lamborghini Aventador, the Lexus LF-Gh concept, the Mazda Shinari concept, and a preview of Australian carmaker JOSS Developments' upcoming JT1 supercar.