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.
Japan motor maker boosts full-year profit estimate as auto demand surges

A recovery in auto output and surging demand for notebook computers and appliances have boosted sales of Nidec's small motors. (Photo by Hirofumi Yamamoto)
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.