Thailand's auto industry association says output has weakened due to sluggish domestic demand, tighter bank lending for auto loans, and Middle East disruption to export markets. FTI's auto club cut this year's production target from 1.5 million to 1.45 million units, lowering its export target to 900,000 and keeping domestic sales at 550,000. Thailand is still Southeast Asia's largest producer at 1.46 million vehicles last year, but has slipped to 11th globally. For suppliers and parts shops, plan for flat or lower orders from automakers and tighter auto-loan access for customers, and look at export markets beyond the Middle East.
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