Copart is the leading auction platform for written-off passenger vehicles on behalf of insurance companies in the US, as well as for dealers, auto-rental companies and fleet companies.

This market is a duopoly and Copart has a share of about 60%. Copart sells about 3 million cars a year on behalf of its customers, with around 250,000 vehicles for sale on its auction website on a typical day.

Copart’s extensive network of international buyers makes it an attractive venue for vendors to sell vehicles, in turn attracting more buyers.