Copart (NASDAQ:CPRT) is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.
Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support. The company serves insurance companies, banks and finance companies, fleet operators, rental-car companies, dealerships, charities and other vehicle owners.
Founded in 1982 by Willis Johnson, Copart is headquartered in Dallas, Texas. Through its online auction platform and physical operating locations, the company serves customers across the United States and in international markets including Canada, the United Kingdom, Germany, Brazil, Ireland, Spain, Finland and the United Arab Emirates.
Copart’s operations are supported by its proprietary online bidding platform, which enables buyers to participate in auctions remotely and gives sellers access to an international marketplace for vehicles and related assets.
