Copart (NASDAQ:CPRT) operates a leading global online vehicle auction platform, connecting sellers—such as insurance companies, dealerships, rental car firms and charities—with a wide network of licensed buyers. Through its proprietary technology, Copart facilitates the remarketing of salvage, clean title and non-repairable vehicles, providing services that include vehicle storage, transportation logistics and title processing.
Founded in 1982 by Willis J. Johnson and headquartered in Dallas, Texas, Copart began as a single salvage yard in California before expanding into a publicly traded company in the mid-1990s. The firm’s early adoption of internet bidding technology revolutionized the remarketing industry by enabling buyers to participate in real-time auctions from remote locations, significantly expanding market reach and transaction efficiency.
Copart’s technology platform, known as VB3®, offers an end-to-end solution that streamlines vehicle listing, auction execution and post-sale processing. Sellers benefit from accelerated inventory turnover and transparent pricing, while buyers gain access to detailed vehicle information, photographs and condition reports. Additional services include vehicle delivery coordination, licensing and titling support, and parts reclamation for aftermarket distribution.
With more than 200 facilities across North America, Europe, the Middle East and Asia Pacific, Copart serves customers in over 180 countries. Under the continued guidance of founder and chairman Willis J. Johnson and a seasoned executive leadership team, the company remains focused on expanding its international footprint and enhancing its digital auction capabilities to meet evolving customer needs.
