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Copart Inc (CPRT), established in 1982, has become a pivotal player in the online vehicle remarketing industry. Headquartered in Dallas, Texas, the company provides a robust platform for connecting buyers and sellers of used and salvage vehicles worldwide. Utilizing its cutting-edge VB3 technology, Copart facilitates seamless online auctions, making it easier for insurance companies, banks, finance firms, fleet owners, and car dealerships to sell vehicles. The company also serves individual sellers and buyers, including dismantlers, rebuilders, exporters, and end users.
Copart's operations span across multiple countries including the United States, Canada, the United Kingdom, Brazil, Germany, the United Arab Emirates, and Spain. Each day, the company lists nearly 100,000 vehicles such as early and late model cars, classic cars, trucks, SUVs, motorcycles, boats, jetskis, snowmobiles, and RVs. The conditions of these vehicles range from slightly damaged to total loss, often sourced from auto insurance companies.
With more than 750,000 registered members in over 150 countries, Copart handles approximately 3.5 million transactions annually. The company's VB3 platform provides a seamless user experience for its diverse customer base. Copart operates primarily on a consignment basis, earning fees based on the final selling price of the vehicles.
In addition to its core auction services, Copart offers a range of auxiliary services including vehicle transportation, secure storage, title transfer, and salvage value estimation. These services add significant value for both sellers and buyers, ensuring a smooth and efficient transaction process.
Recent achievements and expansions have further solidified Copart's position in the market. The company's extensive inventory, innovative technology, and international reach continue to attract a broad spectrum of customers. As Copart evolves, it remains committed to providing exceptional service and maintaining its status as a leader in the vehicle remarketing industry.
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