Indeed.

The two none too subtle references to the electric car are very significant.

Michael asks Tom in a matter of fact way, what he allegedly got his son for a present.

Lo and behold, it meant so much to Anthony that it is already discarded when Michael arrives back at the house!

This really was the start of the trough of Michael's low ebb, right up until the upturn at the start of Part III. Doubtful he could have sunk any lower in terms of being family man.