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According to the company’s website, Copart, Inc., founded in 1982, provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles principally to licensed dismantlers, rebuilders and used vehicle dealers. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made.
The company offers vehicle suppliers a full range of services which expedite each stage of the salvage vehicle sale process and minimize administrative and processing costs. Copart generates revenues primarily from sale fees paid by vehicle suppliers and vehicle buyers as well as related fees for services such as towing and storage.
Copart currently operates 120 facilities in the United States and Canada. The company is listed on the NASDAQ with the symbol CPRT.
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