Copart Is Looking To Make Acquisitions in both Salvage and Traditional Auctions
Since its 1982 inception, Copart has grown into the largest online salvage-vehicle auction operator in the US, connecting buyers and sellers around the world. The firm has grown its top line over fivefold since fiscal 2011 via significant land expansion and robust service quality to drive higher salvage-vehicle volume. Copart receives the majority of its vehicle volume through contracts with large auto insurers and sells them on consignment for high margins to dismantlers or retailers in emerging markets. The company prioritizes maintaining amicable insurance relationships, which are fostered by having adequate storage capacity (even after catastrophes) and providing flexible service. All auctions have been online since 2003.
United States