Bangkok  - Thai-based car manufacturers have lowered their production targets to 1.08 million vehicles this year, down 23 per cent from 2008 output of 1.4 million cars, media reports said Saturday.

Of the targeted 1.08 million units, 500,000 are expected to be sold on the domestic market and 580,000 exported.

"This figure is an estimate based on the present situation," said Piengjai Kaewsuwan, chairman of the Automotive Industry Club, which met Friday.

"What is most important now is for the government to do everything it can to boost consumers' purchasing power and return investor confidence," Piengjai told The Nation newspaper.

Thailand is the leading producers of cars and automotive parts and components in South-East Asia, with all the major Japanese and US auto-makers operating local assembly and manufacturing bases in the country. (dpa)