No it's not. Cars today are all basically the same and have been for decades. People aren't buying new cars because the components are failing. Generally it's for a new interior, new technologies e.g. support their new iPhone and lifestyle changes.
That's actually borderline miracle considering how complex average car is.
With average new car price going pushing $32,000 mark, people would avoid making large purchases like this even every 10 years.
Sure they would love to change it every 5 years, but it's out of the question for most families.
Car companies fear being commoditized, because it's already a very competitive industry.
With global supply chain, computer aided design, parts sharing, and talent poaching, car business is already commoditized than many realize and it is very difficult to differentiate.
Long gone are the days of unique-company know-hows when a Mercedes Benz was literally 3-4 times better than cars that cost 3-4 times less because it offered many things others weren't capable of producing.
More so than electric vehicle, autonomous vehicle is what car companies fear.
I personally think combination of autonomous + electric vehicle will usher in an exciting era, and there is plenty of time for these car companies to adapt.
[1] http://www.kbb.com/car-news/all-the-latest/average-length-of...)
So today's cars already last for "decades".
It may not have happened yet for that Patrol, but most cars are at that point by then, and it will probably happen soon on that one.
Lots of cars are kept beyond that breakeven point too, either for reasons of nostalgia, or because it's more palatable to spend your money in a continuous stream of small maintenance costs than to put down a big chunk up front.