One way

Source data assumed in sheet: B, cols A to C
where
col A = real dates
col B = vehicle ids
col C = mileage figs

In sheet: A,
With vehicle ids listed in A2 down
Put in B2, array-enter, ie press CTRL+SHIFT+ENTER to confirm the formula:
=INDEX(B!C$2:C$10,MATCH(MAX(IF(B!B$2:B$10=A2,B!A$2 :A$10)),IF(B!B$2:B$10=A2,B!A$2:A$10),0))
Copy down to extract the required latest mileage fig (by the dates in B's
col A) for the vehicle ids listed in A2 down. Adapt the ranges to suit the
extents of your actuals.

Real dates are just nums, so the "max" date for that vehicle id = latest date
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"Resi" wrote:
is there a formula which allows me to update a cell in a different worksheet
in the same workbook, with the latest/highest value entered in a different
worksheet?

example:
worksheet B has got chronological listing of mileage related to different
vehicles and drivers.
in worksheet A I like to have the vehicle in cell A2 with it's latest
mileage reading in cell B2, where the criteria will be cell A2.