That is likely true for rich countries, but typically old cars get shipped to poorer countries where they continue to run for another decade or so. The infrastructure there will see good use for a while longer.
Or another 50 years. The modern western disposable culture isn’t global, although is certainly envied by many who don’t have it.
Also oil has high fixed costs. Stations, tanker trucks, refineries. Fewer customers carrying them means they rise as a percentage of purchase price.