Copart: Running a Salvage Yard

Former General Manager at Copart

Why is this interview interesting?

  • How a digital loss adjusting process could drive higher total loss frequency ratios
  • Outlook on the complexity of vehicles and impact on salvage
  • What insurance customers really care about when choosing Copart vs IAA
  • Unit costs of running a salvage yard and bottlenecks in photographing vehicles
  • Drivers of the buyer fee and potential pressures on increasing fees over the next decade
  • Major determinants of the buyer’s ROI and how international scale drives a competitive advantage
  • Typical collisions and drivers of re-buildability for vehicles
  • Opportunities in the German market for Copart

Copart

Why is this company interesting?

Copart is a leading provider of online auctions and vehicle remarketing services with operations mostly in North America. It is also expanding overseas. The company was founded by Willis Johnson and Incorporated in California in 1982. It became a public company in 1994 and is headquartered in Dallas, TX.

Copart is dominant in its industry, operating in a with a strong balance sheet, high insider ownership and a track record of strong returns.

The company has a robust competitive position. For decades, Copart has acquired land in key cities around the US. As a result of zoning restrictions and the growth of American cities, Copart’s land position would be impossible to replicate today. Copart operates in a duopoly with Insurance Auto Auctions.

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Executive Bio

Kyle Roschli

Former General Manager at Copart

Kyle has nearly 10 years working at Copart in the US auto salvage market. He is the Former General Manager of 3 facilities in Baltimore that processed over 35,000 vehicles each year. Kyle has previously run catastrophe facilities in Alabama and Tampa and has deep operational experience running salvage yards across the US. He started his career on Copart’s Leadership Development Program where he was immersed in the culture and operational processes of the company. Kyle recently left Copart to start his own repair shop in Tennessee. Read more

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Interview Transcript

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Copart: Running a Salvage Yard(October 22, 2020)

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