Copart Germany: A New Salvage Auction Model
Former Director at Copart Germany
inpractise.com/articles/cprt-germany-salvage-auction
Why is this interview interesting?
- Regulatory differences between the German and US auto insurance industry
- The existing German salvage model and why it’s inefficient for both buyers and sellers
- History of Copart acquiring WOM to enter the German salvage market
- Why only 10% of buyer bids actually receive the car and how Copart solve the issue
- How Copart are changing the German auto insurance regulatory landscape
- The new Copart model in Germany and how the profits are shared with insurers
- Core challenges in scaling the Copart model in Germany
- How Germany can unlock the rest of Europe for Copart
Copart Inc
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.
Copart Germany: A New Salvage Auction Model(November 4, 2020)
Andreas Zeh
Former Director at Copart Germany
Interview Transcript
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