> Country is rich and money is really no object to most consumers

I take it you don't live here because that is an absurdly out of touch take. There's a massive stratification of wealth at present with a decent chunk of the younger population living paycheck to paycheck barely making rent (never mind hoping to ever own a home). On the far opposite side of the spectrum there's only a vanishingly small minority that sees money as "no object".

We certainly enjoy a high standard of living compared to much of the world and we're lucky enough to have cheap vehicles available but such specimens are far from what could be described as being in good condition.

Young people are irrelevant, they don't buy new cars at all. EV transition is about new car buyers. They are on average 53 and almost all 45+. These are doing just fine.