Copart Germany: A New Salvage Auction Model

Former Director at Copart Germany

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


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.


Executive Bio

Andreas Zeh

Former Director at Copart Germany

Andreas has 15 years in the German automotive salvage industry and is a Former Director at Copart Germany. Andreas grew up working on his family’s car dealership and was involved in buying and dealing wrecked vehicles very early in his life. In 2005, he joined WOM, one of the largest German salvage auction companies which Copart acquired in 2012, and was heavily involved in bringing Copart to Germany. Andreas became a Director at Copart after the WOM acquisition and he was responsible for driving new relationships with insurers to roll out the Copart model. He now works for carexpert, a leading German auto claims management company, where he works with insurers and Copart throughout the country.Read more

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Interview Transcript

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Copart Germany: A New Salvage Auction Model(November 4, 2020)

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