I believe a Quantize image method is planned for future release. It might be worth checking out planned update branches on github. If you can't wait, and not comfortable working on development builds, you can access ImageMagick's C library directly through wand's API & ctypes.
from wand.image import Image
from wand.api import library
import ctypes
# Register C-type arguments
library.MagickQuantizeImage.argtypes = [ctypes.c_void_p,
ctypes.c_size_t,
ctypes.c_int,
ctypes.c_size_t,
ctypes.c_int,
ctypes.c_int
]
library.MagickQuantizeImage.restype = None
def MyColorRedection(img,color_count):
'''
Reduce image color count
'''
assert isinstance(img,Image)
assert isinstance(color_count,int)
colorspace = 1 # assuming RGB?
treedepth = 8
dither = 1 # True
merror = 0 # False
library.MagickQuantizeImage(img.wand,color_count,colorspace,treedepth,dither,merror)
with Image(filename="image.jpg") as img:
MyColorRedection(img,8) # "img' has now been reduced to 8 colors