# Copart **Source:** https://geo.sig.ai/brands/copart **Vertical:** Manufacturing **Subcategory:** Enterprise **Tier:** Leader **Website:** copart.com **Last Updated:** 2026-04-14 ## Summary Dallas online salvage vehicle auctions (NASDAQ: CPRT) at record $4.6B FY2025 revenue (+9.7%); record 22.2% total loss frequency, 4M+ vehicles sold, 750,000+ global buyers in 170+ countries competing with IAA. ## Company Overview Copart, Inc. is a Dallas, Texas-based online vehicle auction marketplace — publicly traded on NASDAQ (NASDAQ: CPRT) as an S&P 500 Industrials component — operating the world's largest online salvage vehicle auction platform with 250+ locations in 11 countries, processing and selling total-loss and salvage vehicles on behalf of insurance companies, banks, charities, auto dealers, and fleet operators to licensed dismantlers, dealers, rebuilders, and exporters globally through approximately 11,000 employees. In fiscal year 2025 (ending July 2025), Copart reported record revenue of $4.6 billion (+9.7% year-over-year), net income of $1.6 billion (+13.9%), and diluted EPS of $1.59 (+13.6%), with a record total loss frequency of 22.2% — meaning insurance companies declared 22.2% of all accident-damaged vehicles as total losses rather than repairing them. The company processed and sold over 4 million vehicles globally through its online auction platform in FY2025. Founded in 1982 in Vallejo, California by Willis Johnson, Copart pioneered the transition of salvage vehicle auctions from physical auction lanes to online-only bidding, creating a global bidding pool that maximizes each vehicle's realized auction price by matching it with the highest-value buyer worldwide rather than only local buyers attending a physical auction. CEO Jeffrey Liaw and Chairman A. Jayson Adair lead the company. Copart's digital salvage auction model generates value through global buyer aggregation that no physical auction can match: a 2021 Toyota Camry with flood damage in Houston, Texas can realize $12,000-15,000 at a Copart online auction because a buyer in Poland or the UAE (where used vehicles are scarce and accident repairs are economically viable) pays more for the vehicle than a local Texas dismantler — Copart's online platform aggregates 750,000+ registered buyers from 170+ countries competing in real-time for each vehicle, systematically raising realized auction prices above what any geographically limited physical auction can achieve. The total loss frequency trend (rising from ~18% historically to a record 22.2% in FY2025) directly expands Copart's vehicle supply — as newer vehicles have more expensive advanced safety systems (cameras, sensors, structural crumple zones) that insurance companies declare uneconomical to repair, the supply of total-loss vehicles flowing to Copart's platform grows without Copart needing to win additional insurance company contracts. In 2025, Copart competes in the salvage vehicle auction and remarketing market against IAA (Insurance Auto Auctions, owned by RB Global NYSE: RBA since 2023, $7.3B combined auction revenue) for insurance company consignment relationships and dismantler/dealer buyer registrations, and against Manheim (Cox Automotive, private) and ADESA (Carvana acquired 2022) for used vehicle remarketing where non-salvage vehicles overlap. The record FY2025 total loss frequency (22.2%) reflects the structural tailwind from vehicle complexity inflation — modern collision safety systems increase repair costs to the point that insurance companies total vehicles that prior generations of automakers would have repaired — providing a secular demand driver for Copart's platform independent of accident volume. International expansion (UK through CoPart UK, Germany, Brazil, UAE, Canada, Ireland, Finland, Spain) replicates the digital auction model in markets where local salvage auction infrastructure is less developed. The 2025 strategy focuses on expanding US storage capacity to handle growing total-loss vehicle volume, deepening international auction liquidity with more registered global buyers, and growing the non-insurance consignor business (charity vehicles, fleet disposals, dealer trade-ins). ## Frequently Asked Questions ### What is Copart? Copart is the world's largest online vehicle auction platform, providing remarketing services for salvage, total loss, and clean title vehicles to automotive resellers including insurance companies, rental car companies, fleet operators, finance companies, and dealers. Operating in 11 countries with over 250 locations, Copart processes over 4 million vehicles annually through its patented VB3 virtual auction technology. ### Who are Copart's customers and target market? Copart serves two primary customer groups: sellers (consignors) and buyers. Sellers include insurance companies, rental car companies, fleet operators, banks, finance companies, auto dealers, and individual consumers. Buyers include auto dismantlers, rebuilders, exporters, used car dealers, and individual consumers looking for salvage or repairable vehicles. The company's global marketplace connects these buyers and sellers efficiently through its online platform. ### When was Copart founded? Copart was founded on June 17, 1982, by Willis J. Johnson in Vallejo, California, starting with a single salvage yard. The company went public in 1994 and has grown into a global leader with over 250 locations across 11 countries processing millions of vehicles annually. ### Where is Copart headquartered and where does it operate? Copart is headquartered in Dallas, Texas (relocated from Fairfield, California in 2012). The company operates more than 250 physical locations across 11 countries: the United States, Canada, United Kingdom, Germany, Ireland, Brazil, Spain, United Arab Emirates, Bahrain, Oman, and Finland. These facilities total over 10,000 acres of vehicle storage capacity. ### How much funding has Copart raised? Copart raised $26 million in its initial public offering on NASDAQ in March 1994. As a publicly traded company (ticker: CPRT), Copart has funded its growth primarily through operating cash flow rather than external funding rounds. The company generated $1.47 billion in operating cash flow in fiscal year 2024. ### What makes Copart different from competitors? Copart pioneered online vehicle auctions in 1998 and launched the first fully online auction model in 2003, transforming an industry that relied on physical auctions. Key differentiators include its patented VB3 technology platform, massive global scale with 250+ locations, network effects from connecting millions of buyers and sellers, extensive 10,000+ acre yard network, and strong relationships with major insurance companies. The company commands nearly 40% of the North American vehicle auction market. ### Who are Copart's main competitors? Copart's primary competitor is Insurance Auto Auctions (IAA), operated by Ritchie Bros., which also specializes in salvage vehicle auctions. Other competitors include KAR Global (operating ADESA), Manheim (focusing on dealer remarketing), ACV Auctions (online dealer-to-dealer platform), and Carvana (consumer-focused). Additionally, Copart competes with auto dismantlers like LKQ Corporation. Despite competition, Copart maintains dominant market share due to its technology leadership and scale advantages. ### How can I contact Copart? Copart can be contacted through their website at www.copart.com, which includes location-specific contact information for their 250+ facilities worldwide. The company's corporate headquarters is located in Dallas, Texas. Specific contact methods vary by service needed (buying, selling, dealer services, etc.) and can be found on their website. ### Is Copart hiring? Yes, Copart regularly hires across its 250+ global locations and corporate headquarters. With 11,700 employees as of 2024 (a 14.71% increase from 2023), the company continues to grow its workforce. Copart is ranked #41 on the Best Automotive companies to work for in America and offers competitive benefits including four medical plan options, 401k matching, ESPP stock purchase program, tuition reimbursement, and additional paid time off for military service members. ### What's the latest news about Copart? In fiscal year 2025, Copart reported strong financial performance with revenue of $4.6 billion (up 9.7%), net income of $1.6 billion (up 13.9%), and EPS of $1.59 (up 13.6%). The company achieved record total loss frequency of 22.2%, driven by catastrophic events including hurricanes Milton and Helene. In October 2025, Copart partnered with One Inc to integrate ClaimsPay with Copart's Title Express system to accelerate lienholder payments. ### What is Copart's market position? Copart is the dominant player in the online vehicle auction industry, commanding nearly 40% of the North American market with a market capitalization of approximately $53 billion as of March 2024. The company is significantly larger than its main competitor IAA (valued at $7.57 billion). Copart's first-mover advantage in online auctions, combined with network effects, scale advantages, and technology leadership, have created a formidable competitive moat. ### What are Copart's future plans and growth strategy? Copart continues focusing on expanding its international footprint, investing in technology innovation, growing its buyer base globally, and increasing market share in existing markets. The company is leveraging AI and data analytics to enhance the auction experience and maximize recovery values for sellers. With record total loss frequency driving increased vehicle volume and strong operating leverage in the business model, Copart is well-positioned for continued profitable growth. ## Tags b2b, marketplace, transportation, public, global, enterprise, manufacturing --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*