Why have the market values of second-hand vehicles increased?

Impacts from COVID have caused supply chain issues across many industries, including the car market. This means that because of delays in new cars being produced and delivered, people are turning towards second-hand vehicles.  Lifestyle changes throughout the last 18 months mean that many have purchased a second vehicle rather than taking public transport. As a result of the increased demand, and lack of new vehicles, the cost of second-hand vehicles has increased.