This doesn't sound believable to me. This sounds like a luxurious lifestyle for America at any point.
As an example, the Dodge Coronet was $2k in 1950, and median annual income was $3300, so that's 60%. A 2023 Honda Civic is $23k, and median annual income is $57k, so that's 40%. So that's actually better today, especially because the Civic is a far better car than the Coronet.
I think this is lifestyle inflation.