Copart, Inc. is a U.S.-based company operating in the automotive remarketing and online auction industry. The company provides digital auction services and related solutions for used, damaged, and salvage vehicles.
Its business model is centered on connecting sellers—primarily insurance companies and fleet owners—with a global base of buyers through proprietary online auction platforms.
Core activities include:
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Online auctions of used and salvage vehicles
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Vehicle remarketing services
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Transportation, storage, and logistics solutions
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Inspection, title processing, and valuation services
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Digital auction technology and bidding platforms
Copart operates internationally, with presence in the United States, Canada, the United Kingdom, Germany, Brazil, the Middle East, and Europe, serving insurance companies, dealerships, dismantlers, and individual buyers.
The company’s performance is influenced by factors such as accident rates, total-loss vehicle volumes, used vehicle pricing, regulatory requirements, and the ongoing digitalization of automotive resale channels.
Copart, Inc. is listed on the Nasdaq under the ticker CPRT.
History and Development
Copart was founded in 1982 in Vallejo, California, initially operating a single salvage yard focused on reselling damaged vehicles.
In its early years, the company expanded its storage capacity, increased auction volumes, and developed structured processes to manage inventory and transactions.
Growth accelerated with the establishment of partnerships with major insurance companies, expansion into additional U.S. markets, and the diversification of its service offerings.
A key milestone occurred in 1994, when the company completed its initial public offering (IPO), enabling further investment in infrastructure and expansion.
In 1998, Copart implemented fully online auctions, transforming its operating model and significantly increasing scalability and global reach.
Over time, the company expanded internationally and strengthened its digital platform, consolidating its position as a global leader in vehicle remarketing services.
Today, Copart continues to invest in technology, logistics infrastructure, and international expansion to support its global auction ecosystem.