On the 7 years, it says a few things.
One, is it represents consumer confidence, and their willingness to spend more money over a longer period of time.

It also means that the market expectation is that cars will last longer, in a much higher condition, than they have previously, so people are willing to pay for them over a longer period of time. So it represents an increase in value.

On peaking, well the market is only so big. So, there are peaks and valleys, just like the economic expansion can only go on for so long, so too for new car sales.

Until electrics can crack 300 miles range, they’ll be loser’s.
The Acura NSX hybrid I just drove had AWD and launch control. Fantastic!
And, it was a real useable car. That’s how to use batteries.

Out there doing it best I can.