The Peugeot 301 hopes to be an answer for those living in emerging market economies who are looking for a stylish and affordable family sedan.

The Peugeot 301 incorporates the brand’s latest styling cues, offering a modern design and character which Peugeot says “inspires emotion and gives an impression of strength”. It certainly punches above its weight in terms of styling, considering it’s taking aim at the budget end of the market.

It’s also a car that Peugeot are placing a lot of their hopes on, as they plan to sell it worldwide, starting in Turkey this November, followed by countries in Central Europe, Russia, the Middle East, Latin America and Africa. The Peugeot 301 will be built at the company’s Vigo factory in Spain and Peugeot say they have engineered the 301 to withstand the rigours of developing nations, such as their often poor road conditions and, in some cases, extreme climates.

The Peugeot 301 is available with the company’s latest generation petrol and diesel engines. These include a new 3-cylinder, 1.2-litre VTi petrol engine first seen on the new 208. The 1.2-litre VTI produces 52 kW and can be had with a manual or an automatic transmission. There is also a 1.6-litre VTi petrol engine with 85 kW, which is also available with either a manual or automatic transmission. The 1.6-litre HDI diesel engine pushes out 68 kW and is available exclusively with an automatic transmission.

With a wheelbase of 2 650 mm, the Peugeot 301 is 4 440 mm long and offers a class-leading 506-litres of storage capacity. It will be offered with a long list of safety equipment that includes ABS, ESP, an emergency brake-assist system and four airbags. It’s worth noting that even though Peugeot are positioning the 301 with ones budget in mind, the 301 still offers modern conveniences such as: USB and Bluetooth connectivity; MP3-compatible sound system; air-conditioning; rear parking sensors and an automatic boot release function.

Peugeot has not released pricing or further specifications at this stage, but we hope to hear more soon and are excited by the prospect of what, on the face of it, promises to be a stylish and sensible buy.