Car dealerships across North America are still wrestling with disruptions that started last week.

Prices of new and used automobiles are staggeringly high.

Yet that increase was nothing next to what happened in the used market. The average price of a used vehicle surged nearly 14% — roughly 10 times the rate of inflation — to over $23,000. So when buyer demand picked up late in the year, fewer used vehicles were available. “There are millions fewer used vehicles that are going to be available starting next year, 2022 and 2023,” he said. Dealers say competition for used vehicles, especially from upstart online auto sellers Carvana and Vroom, contributed to the price increases with bidding wars at auctions.