$CPRT Copart Inc Deep Dive and 2024 Outlook

The vehicle auction company is a large online marketplace, but growth is slowing

Copart Inc. is a global provider of online vehicle auction and remarketing services, catering to automotive resellers like insurance, rental car, fleet, and finance companies across 11 countries. The company, founded in 1982 by Willis J. Johnson in Vallejo, California, has its headquarters in Dallas, Texas.

They sell used, wholesale, and repairable vehicles through online auctions to a diverse range of buyers, from consumers to automotive businesses. Copart's patented virtual auction technology, VB3, facilitates these transactions. The company is made it to Fortune's 2020 100 Fastest-Growing Companies and the Fortune 500 list.

With a strong industry reputation, Copart offers a platform where individuals and businesses can buy, sell, or auction vehicles, including clean and salvage cars, SUVs, motorcycles, and ATVs, making it a versatile and reputable player in the automotive remarketing industry.