I am looking to update my car.

You should get a Tesla then you wouldn't have to 'update' it, they do that themselves.........

;-)

Prices are crazy. I just sold a 66reg Kia Sportage. Price went up £1500 in about 6 weeks

Yup, currently being offered just under £12k for a car that I paid £15k for 3 years ago.

Not planning on selling/changing - just keeping in touch with current market.

Things won't change until the shortages in parts (especially computer chips) and problems with logistics caused by pandemic restrictions, people actually being ill and especially being 'pinging' to stay at home a lot comes to an end.

Which I don't see coming anytime soon. The very earliest next summer, and a LOT of other high spending costs will be starting to feed through into general prices around the same time through extra (huge) borrowing costs.

Despite what the 'experts' from central banks are currently saying, I think they are lying to not spread panic and that inflation in the range of 5-10% will be with us in most of the world very soon and likely for 2-3 years at least.

That means high car prices, fuel and running/maintenance costs.