I am not sure of this but I have always been told that the ‘Plastic lug nut covers’ will keep the actual lug nuts from getting quite rusty. If you are stopped by DOT, rusty lug nuts can be an offense and a ticket with a fine can be issued. Real pricks will make you stop and go get new lug nuts. Most are too lazy to pull more than a couple of the plastic covers so you can get away with some not so perfect lug nuts for a longer period of time.
They are both decoration and practical. Semi trucks have long lug nuts holding the wheels on the hubs. The long lugs in the back are also installed in the front for practical reasons (less parts in inventory, less chances of installing short lugs on the rear, etc). If you don’t cover the extra threads that are exposed to the weather, they get filled with dirt, rust, etc. and the lugnuts jam due to the debris on the threads.
They used to have plain covers, but truckers want to make their vehicles custom to their personalities, so they buy spinners, chrome, extra lights, etc to make their vehicles unique.
“for looks” is part of it. But another part is to make sure you’re aware and looking. Giant, deadly wheels of mayhem are right there. Truckers like to make them giant, deadly, pointy, shiny well lit wheels of mayhem so you don’t run into them. You say you see them and when you’re on your bike you wonder if they’ll maim you. THAT is the point of them. To make you more aware.
[Curious case of Truck Spikes](https://carfromjapan.com/article/car-maintenance/the-curious-case-of-spikes-on-truck-wheels/)
If you accidentally bump or scrape something, the spikes can help offset any major damage (like the actual Rim and bolts). This way only a minor cosmetic thats cheap to replace is broken.
The biggest thing is they are more of a cool truck decoration. Their popularity is partly due to the price and ease of installation. They also really make a difference for the truck lovers out there.
Just a note, these spikes break off very easily. No worries about a Mad Max rig tearing into your car on the highway. Even if they might give that appearance.
[Alternate answer from u/Kanakamaoli](https://www.reddit.com/r/explainlikeimfive/comments/ftbfmd/eli5_is_there_any_reason_the_front_tires_on_18/fm756yj?utm_medium=android_app&utm_source=share) : Extended Lug Bolts in the front wheels are covered and protected with the lug covers. Initially they were plain, but truck drivers love customizing their trucks.
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