French automaker Peugeot plans to boost its share of the Mexican new car market to 5 percent by 2005, company head of international affairs Christian Delous said.

Delous said Peugeot expected its market share in Mexico this year to be one percent, rising to three percent in 2003.

Under favourable market conditions, he said, Peugeot would be looking to sell at least 30,000 cars in Mexico during 2005, giving it a five percent target market share.

Delous said that while the company was not ruling out the possibility of building an assembly plant in Mexico, its current plans were restricted to boosting market share by opening a new subsidiary in the country to handle imports, distribution and servicing.

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