TOKYO -- Car prices will fall to below $3,000 each, creating new demand in India, Africa and the Middle East, said Shigenobu Nagamori, chairman and CEO of the world's largest motor maker Nidec, on Monday.
"The price of a car will drop to as low as 300,000 yen ($2,890), resulting in a spike in demand for cars," said Nagamori during the earnings announcement for the April-December period.
