Peugeot is gearing up for what is looking like a busy time at the 2012 Geneva Motor Show.

The French automaker has already bared the details of one of their concepts, the 208 GTi Concept, and now, we’re getting the first look at the second Geneva-bound concept, the 208 XY supermini concept.

The 208 XY Concept appears to be Peugeot’s entrant into what has become a pretty competitive sub-compact market, one that includes the Audi A1, the MINI Cooper, and the Citroen DS3, among others.

Based on the images of the concept we’re seeing, the 208 XY Concept looks like it’s received some fancy exterior and interior get-ups, highlighted by a bespoke “Pulsion” paint finish that, according to Peugeot, has the capacity to be chameleon-like and change colors depending on the how and where you look at it. On top of that, the 208 XY Concept also gets a panoramic glass roof trim, subtle wheel arch extensions, a special grille set-up with three horizontal chrome bars on the lower window edge and the quarter panel, and a new set of 18″ alloy wheels.

Hit the jump to read more about the Peugeot XY Concept.