Except that is ignoring the filtering effect of the used market. As a car ages and changes hands, it is likely to replace an older, less efficient car. How else could we replace the oldest cars that are going out of service due to being at the end of their life?
It’s not like the people that are buying old used cars are suddenly going to afford an expensive new car. Instead, they need an affordable used car.
Without that extra 2% cash discount, it would have been $420k and change. Nice.