The Thai unit of General Motors Corp. (GM) has lowered its production target this year because of weakening economic conditions.

Production this year has been revised down to 45,000 units from the previous estimate of 50,620, General Motors (Thailand) Ltd. public relations director Sasinan Allmand told Dow Jones Newswires Friday.

"This is the latest adjustment, to be in line with low demand... the figure is pretty much settled now," said Sasinan.

In 2008, GM produced a total 104,461 vehicles at its Thai plant in the eastern seaboard province of Rayong.

"We hope the government will implement measures to stir (domestic) demand," Sasinan added.

General Motors (Thailand) has reduced its headcount by around 790 employees so far this year, leaving its current staff levels at nearly 2,000.

The company is seeking the Thai government's support to facilitate funding sources for its future investment in a THB15 billion ($424 million) diesel-engine and one-ton pickup project.

"We expect to finalize it (loan details) by the end of this year," said Sasinan.

Earlier this year, GM representatives held talks with the Thai Industry Ministry about funding for the project, but the company has declined to elaborate on the discussions.

Local newspapers have said GM was seeking THB5 billion from the Thai government.

-By Supunnabul Suwannakij, Dow Jones Newswires; 66 2266 0744; tu.suwannakij@dowjones.com