Half-Hearted Welcome for Peugeot 508

Peugeot 508 that entered the Iranian market through imports in July has failed to draw the attention of luxury sedan lovers. The vehicle is imported by Iran Khodro as part of a joint venture between IKCO and Peugeot. Seemingly the unreasonably high price imposed by the Iranian firm has discouraged car buyers, local automotive website Asbe Bokhar reported. While the 2017 model is currently sold for $28,500 in the international market, IKCO has priced it at 1.85 billion rials ($46,250). Curiously, according to Tehran-based car dealers the model is changing hands for some $4,000 less in the market. Since introduction the model has faced-off with Renault Talisman, Hyundai Sonata and DS 5LS, which fall in the same price range, a challenge Peugeot has apparently failed to meet. The 508 is a family sedan and is equipped with a 1.6-liter, 163 horsepower, four-cylinder turbo engine and the output is managed by a six-speed automatic transmission.