That's not wrong, but still some parts wear out and it's harder to find them nowadays. Although to be fair there's still some production for the most popular cars (eg. 2CH, 4L).

But it would be interesting if we took that old "built forever" approach (remember washing machines that last a lifetime?) and used it to build modern low-tech cars with the newer higher safety standards and efficiency gains. It's a shame how everything that comes out of factories nowadays has a 10 year lifespan.