In the US the car manufacturers learned that they can increase their profits by selling more expensive cars to fewer wealthy customers. The average Joe will most likely never be able to afford a new car again.
It's hard to imagine ponying up many tens of thousands of dollars for a new truck, when they don't really do anything better (or are often worse) than what you have, and the cost of overhauling an older truck still comes out pretty favorably. I wonder if GM is cursing how easy and well understood it is to rebuild and improve a 4L60E or a small block chevy?