Nonsense. Did you ever see an i-device get cheaper? Or a cheap car get even cheaper? There is a reason why wealth inequality has grown in recent decades, while manufacturing efficiencies increased.
Nobody produces the cheap base-model car of yore, if they did they could easily do so for well under 10k. But that doesn't support the bottom line especially when you have to cut in the dealership.
Furthermore smartphones in general _have_ been getting cheaper. It's only top of the line flagships that are getting more expensive while also being much more powerful and with better (AKA more expensive) tech inside them.