[BANGKOK] Thai auto sales are expected to reach 750,000 to 800,000 cars this year, the Federation of Thai Industries (FTI) said on Wednesday, as economic growth slows and banks grow more cautious about lending.

The federation had already cut its car sales target for the year in July to 850,000 cars from 950,000 cars seen earlier, the FTI's Auto Industry Club spokesman Surapong Paisitpattanapong told reporters. The export estimate for this year remained at 1.2 million vehicles.

Sales totalled 881,832 vehicles last year.

REUTERS