That's nothing new. The norm around where I live (North Jersey) are kids getting brand new BMWs. The favourite this year has been the BMW X3. Either that or an Infiniti FX, or a Escalade.
That's not to say we don't have other things, G-wagens, 350z's, basically the history of the mustang from late 90's to 2006. Did I mention Cadillac?
It's really kind of sad. And rather annoying to an extent. But one this that those kids don't have that I do. A car with character. I bet nobody turns their heads at an X3, but a 1979 Beetle Convertible, now there ya go.
Oh, and the driving age in NJ is 17, so at least when kids get their licences, they're not as obnoxious as that kid looks. First time I saw him, I just wanted to punch him in the face. Or, slash his tires.