Copart

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Copart, Inc.
legal form Inc.
ISIN US2172041061
founding 1982
Seat Dallas , United StatesUnited StatesUnited States 
management Willis J. Johnson (Chairman)
Jay Adair (CEO)
Number of employees 5,323 (2017)
sales $ 1.45 billion (2017)
Branch Car dealership
Website https://www.copart.com/

Copart, Inc. is a Dallas -based US company that conducts online vehicle auctions . The company offers its services in the United States, Canada, the United Kingdom, Germany, Ireland, Brazil, Spain, the United Arab Emirates, and Finland.

history

Copart was founded in 1982 by Willis J. Johnson in Vallejo .

In the early 1990s, Willis Johnson began growing Copart using personal loans and equity. At the time, the company had four locations in Northern California; by March 1994 eight more locations were added before the North Texas Salvage Pool of Dallas, Texas, the largest salvage company in the United States, was bought.

In the 1990s, the company also began offering services over the Internet. The first step was the creation of an auction system in 1997, which was supposed to consolidate and standardize the transactions and to give both the branches and the sellers access to information, the preparation of reports and an increase in efficiency. In 1998, Copart made it possible to bid over the Internet. In 2003 the auction platform VB 2 went online, which can be used worldwide. In 2004 the company closed its live auctions in North America and 2008 in the UK and started selling the vehicles through VB 2 . Copart sells over a million vehicles annually through this platform.

On March 17, 1994, Copart went public. The 2.3 million shares traded on the NASDAQ under the symbol CPRT were quoted at $ 12. In 2012, Copart moved its headquarters from Fairfield , California to Dallas, Texas. The building rented there offers around 4,900 m² of office space.

Services

Copart provides vehicle sales services for the sale of vehicles over the Internet.

The buyers of the Copart auctions are mainly used car dealers, recyclers, reconditioners, exporters and in some areas the general public. The vehicle sellers are mostly insurance companies, banks, financial institutions, charities, vehicle dealers, government agencies, and car rental companies.

The vehicles sold for insurance companies are mostly damaged vehicles that are classified as total loss and cannot be economically repaired or stolen vehicles for which the owners have already been compensated.

The Copart Direct department also buys vehicles from the public for resale.

Brands

  • Autovahinkokeskus (AVK)
  • CashForCars.com
  • Copart Direct
  • CrashedToys
  • Drive Auto Auctions
  • National Powersport Auctions (NPA)

Individual evidence

  1. ↑ a b Copart, Inc. (CPRT) FORM 10-K . Seeking Alpha. July 31, 2017.
  2. ^ Copart Annual Report, Form 10-K September 29, 2008. US Securities and Exchange Commission. Retrieved February 1, 2013.
  3. ↑ a b c d e "Grant, Tina, ed. (1998). International Dictionary of Company Histories. Copart Inc. 23. Detroit. St. James Press. Pp. 147-149. ISBN 1-55862-364-7 .
  4. ↑ 34. Copart Expands Operations into Germany . Business Wire. November 12, 2012. Retrieved February 21, 2013.
  5. ↑ Copart Expands Operations Into Brazil . Business Wire. November 5, 2012. Retrieved February 21, 2013.
  6. ↑ Copart Expands Operations into Spain . Business Wire. June 11, 2013. Retrieved October 10, 2013.
  7. ^ Copart Inc Announces Acquisition Of Ride Safely Middle East Auction, LLC . Reuters.com. August 28, 2012. Retrieved January 31, 2013.
  8. ↑ a b c Copart to Celebrate 25 Years of Success . Collision Repair Magazine. July 17, 2007. Retrieved May 5, 2014.
  9. ^ Turning Rust into Gold . Business Week. June 9, 2002. Retrieved January 21, 2013.
  10. ↑ a b The Sotheby's of Scrap Fortune. January 11, 2005. Retrieved January 23, 2013.
  11. ↑ a b c Copart Annual Report, Form 10-K October 31, 2006. US Securities and Exchange Commission. Retrieved February 1, 2013.
  12. ^ Copart Annual Report, Form 10-K October 14, 2004. US Securities and Exchange Commission. Retrieved October 22, 2014.
  13. ^ Copart, Inc. 2007 Annual Report, Form 10-K October 1, 2007 US Securities and Exchange Commission. Retrieved October 22, 2014.
  14. ^ Copart, Inc. Company Profile . Hoovers.com. Retrieved October 22, 2014.
  15. ^ About Copart . Copart.com. Retrieved October 22, 2014.
  16. ↑ Copart Annual Report, Form 10-K October 1, 2012. US Securities and Exchange Commission. Retrieved March 10, 2014.
  17. ↑ Car reseller Copart to move HQ to Farmers Branch . Dallas Business Journal. February 17, 2012. Retrieved January 24, 2013.
  18. ↑ a b Copart Annual Report, Form 10-K October 28, 1996. US Securities and Exchange Commission. Retrieved February 1, 2013.
  19. ↑ Business Summary . Retrieved January 25, 2013.