16 Facts About Copart

Copart, Inc or simply Copart is a global provider of online vehicle auction and remarketing services to automotive resellers such as insurance, rental car, fleet and finance companies in 11 countries; the US, Canada, the UK, Germany, Ireland, Brazil, Spain, UAE, Bahrain, Oman and Finland.

Copart sells used, wholesale and repairable vehicles in weekly and bi-weekly online auctions to buyers ranging from consumers to automotive businesses around the world.

Copart provides vehicle sellers with a range of services to process and sell repairable and clean title vehicles over the internet, using its patented virtual auction technology, named VB3, as well as others of its auction-related brands.

Copart is a public company and is traded on the NASDAQ under the ticker symbol CPRT and has been named to Fortune's 2020 Future 50 companies, 100 Fasted-Growing Companies, and the Fortune 500 list.

Copart was founded in 1982 by 34-year-old Willis J Johnson in Vallejo, California.

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In May 1995, Copart began rapid expansion in the United States with the sizable acquisition of NER Auction Group, doubling its number of facilities around the country.

Copart would continue to grow via acquisitions and founded six new locations from July 1995 to July 1996.

Copart has continued to acquire businesses, including National Powersport Auctions in 2017.

In 2012, Copart began expanding to the United Arab Emirates, Brazil, Bahrain, Oman, Spain, Ireland and Germany.

Copart expanded into Finland in 2018 with the acquisition of Autovahinkokeskus .

In fiscal year 2004 in North America and fiscal year 2008 in the U K, Copart discontinued all live auctions and began remarketing vehicles exclusively through VB2.

In 2012, Copart relocated its corporate headquarters from Fairfield, California, to Dallas, Texas.

In 2013, Copart upgraded its VB2 technology to a new version dubbed VB3.

Copart now sells more than one million vehicles each year through VB3 technology.

Copart sells additional services such as providing sale pricing estimates for salvage vehicles, providing transport to and from storage lots for vehicles being sold in its platforms, and assisting with vehicle title processing.

The largest group of vehicle purchasers buying automobiles in Copart's auctions is vehicle dismantlers, while insurance companies make up the primary seller of vehicles listed in Copart auctions.