A second generation was announced by Peugeot in February 2018, and was officially unveiled at the Geneva Motor Show in March 2018.
The design is inspired by the Instinct shooting brake concept, shown at the 2017 Geneva Motor Show.
In terms of powertrain options, the new 508 will have petrol engine options, both 1.6 litre PureTech turbocharged engines, with different power outputs; and three turbodiesel options The automatic transmission has been updated to an eight speed Aisin 8EAT unit, replacing the older 6EAT units. A plug in hybrid version is being developed as well