LOS ANGELES, Oct. 14 (Xinhua) -- The average price of a new vehicle in the United States exceeded 50,000 U.S. dollars for the first time, according to new estimates released Monday.

According to Kelley Blue Book, an American automotive valuation and research company, the average new-vehicle price reached 50,080 dollars in September for the first time.

The September figure represented a 2.1 percent increase from August and a year-over-year rise of 3.6 percent, the company said. It added that the 3.6 percent annual gain in September was the largest since the spring of 2023, though it remained in line with the long-term average of price inflation.

"New-vehicle prices have risen steadily for more than a year, with the pace of the increases accelerating in recent months," the company said. "As 2026 model year product arrives on dealer lots, the average new-vehicle manufacturer's suggested retail price (MSRP) also reached a new record-high in September of 52,183 U.S. dollars."

The company noted that the MSRP in September was 4.2 percent higher year over year, surpassing the long-term average increase.

Erin Keating, executive analyst at Cox Automotive, was quoted as saying that the inflation-linked U.S. auto market has been driven by wealthier households with greater access to capital and favorable loan rates, supporting the higher end of the market.

"It is important to remember that the new-vehicle market is inflationary. Prices go up over time, and today's market is certainly reminding us of that," Keating said, noting that tariffs were only one factor adding cost pressure to the industry. She said the main cause of soaring prices in September was the growing share of EVs and higher-end vehicles pushing the average to record levels.

A report published by Forbes on Monday highlighted that auto tariffs were increasing costs and uncertainty, posing risks of production disruptions and higher consumer expenses that could suppress sales.

U.S. President Donald Trump earlier this year imposed a 25 percent base tariff on vehicles built outside the country, raising car prices by up to 6,000 U.S. dollars for vehicles under 40,000 U.S. dollars, according to Kelley Blue Book.