Competitors

Competitors describe Copart, Inc.'s market in their own filings and calls. These verified passages and visual pages show where their strategies meet, using source documents preserved in Sources.

RB Global, Inc. (IAA / Insurance Auto Auctions) (RBA)

IAA, owned by RB Global, is Copart's single most direct competitor — the #2 US platform in the insurance-salvage vehicle auction market Copart leads, running the same model: online bidding, an international buyer base, catastrophe-surge capacity, and total-loss vehicles consigned by insurance carriers. Only the Automotive (IAA) segment is in scope; RB Global's Ritchie Bros. heavy-equipment and commercial-truck auction business is a separate market and is excluded. The FY2024/FY2025 annual-report files indexed for RBA contain only financial statements and notes, so the competitive narrative is drawn from the earnings calls.

IAA's parent describes a 2026 rollout of an "IAA Total Loss Predictor" to route a vehicle from the accident scene to the most appropriate destination — a yard or a repair facility — positioned as an upstream, carrier-integration play to capture share and deepen partner lock-in. The "billions of dollars are lost annually" framing is management's own characterization of the addressable inefficiency. This collides directly with Copart's own insurer-integration and upstream total-loss strategy.

James (Jim) Kessler, CEO, prepared remarks (Q4 2025 earnings call): The more effectively we communicate and demonstrate our value proposition upstream of the transaction, the better positioned we should be to capture additional market share. In automotive, this means enabling our partners to optimize the vehicle towing to the most appropriate destination, whether that is one of our yards or a repair facility. Across the industry, billions of dollars are lost annually due to inefficient vehicle routing after an accident. In 2026, we plan to provide another innovative tool to help address this gap with the upstream rollout of IAA Total Loss Predictor, designed to enable dynamic vehicle routing and is expected to deliver meaningful cost savings and operational efficiencies for our partners. […] we view it as a foundational capability that will strengthen partner economics and increase our long-term stickiness.

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RB Global's CFO cites third-party CCC Intelligent Solutions data putting industry total-loss frequency at 23.6% (up 70 bps year-over-year), attributing the secular rise to the gap between repair costs and used-vehicle prices. The 24.2% and 22.6% prints in the prior two quarters bracket the same trend. This is the same structural volume tailwind Copart benefits from, read here from an external source cited by a rival.

Eric Guerin, CFO, prepared remarks (Q1 2026 earnings call): In recent months, the inflation differential between automotive repair costs and used-vehicle prices has widened slightly, which continues to support an increase in the total-loss ratio. CCC Intelligent Solutions estimates the total loss frequency across all categories increased by 70 basis points to 23.6% compared to the prior year period.

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IAA management claims a fifth consecutive quarter of unit-volume outperformance versus the broader market and targets "net market-share gains" in 2026, while acknowledging a "competitive market" and adopting selectivity on volume. The share claims are management's own; note the quarter's headline automotive unit growth was just 1%, which tempers the framing.

James (Jim) Kessler, CEO, prepared remarks (Q1 2026 earnings call): Unit volumes increased 1% year-over-year, marking the fifth consecutive quarter of outperformance relative to the broader market. […] We remain confident in our goal of delivering net market-share gains in 2026, as our focus on driving tangible P&L value for our partners continues to resonate and differentiate our platform. Importantly, in a competitive market, we will remain selective in pursuing volumes. We are prioritizing partners that align with our culture

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OPENLANE, Inc. (formerly KAR Auction Services / ADESA) (OPLN)

OPENLANE is the largest pure-digital wholesale used-vehicle marketplace (dealer-to-dealer plus commercial/off-lease consignment) and the cleanest public read on the size and digitization of the whole-car wholesale market Copart's non-insurance business competes in. As former KAR Auction Services it once owned both IAA and ADESA before spinning off IAA (2019) and selling ADESA's US physical auctions (2022), leaving today's asset-light digital model. Exhibits are drawn from its 10-K and earnings calls.

OPENLANE (management estimate, FY2025 Form 10-K, Item 1 Business) sizes the US and Canadian wholesale used-vehicle market at approximately 15 million vehicles a year, split between the commercial (off-lease and fleet) and dealer-to-dealer markets, and argues digitization can expand it. This is the whole-car wholesale pool Copart's non-insurance business competes for — a separate, larger arena than the salvage/total-loss market that is Copart's core.

We believe the U.S. and Canadian wholesale used vehicle industry has a total addressable market of approximately 15 million vehicles, which can fluctuate depending on seasonality and a variety of other macro-economic and industry factors. This wholesale used vehicle industry consists of the commercial market (commercial sellers that sell to franchise and independent dealers) and the dealer-to dealer market (franchise and independent dealers that both buy and sell vehicles). The Company supports the majority of commercial off-lease sellers in North America with our SaaS-based technology, and we believe digital applications in general may provide an opportunity to expand the total addressable market for dealer-to-dealer transactions

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OPENLANE (company-reported, FY2025 10-K) ran roughly 1.5 million wholesale transactions on $28.8 billion of GMV in 2025, monetized through buy and sell fees on both sides of the transaction and generally without taking title — an agency take-rate model closely analogous to Copart's. It is a benchmark for the digital-wholesale opportunity set, though Copart's total unit throughput is materially larger.

OPENLANE is a leading digital marketplace for wholesale used vehicles operating in the United States, Canada and Europe. Our technology and people connect the leading automotive manufacturers, dealers, rental companies, fleet operators, captive finance and lending institutions as buyers and sellers to facilitate approximately 1.5 million annual vehicle transactions with a gross merchandise value ("GMV") of $28.8 billion in 2025. GMV represents the total dollar value of vehicles sold through our marketplaces. […] We generate revenue through buy and sell fees charged to vehicle sellers and buyers on both sides of the transaction, as well as through the sale of value-added ancillary products and services […] For the majority of our transactions, we facilitate the transfer of ownership directly from seller to buyer and, generally, we do not take title to, or ownership of, vehicles sold through our marketplaces.

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OPENLANE's CEO frames its buyer/seller fees as below those of physical auctions — "particularly compared to the leading brand" (Manheim) — citing a "long-term pricing opportunity," i.e. a digital cost advantage with room to raise take-rate as volume migrates online. Relevant to how Copart's whole-car fee structure and margin trajectory stack up against the physical incumbents.

Peter J. Kelly, CEO, Q&A response to Rajat Gupta (Q2 2025 earnings call): Our fees are definitely lower than many physical auctions, particularly compared to the leading brand, indicating a long-term pricing opportunity. In the short term, our main focus is on increasing volume, market share, net promoter scores, and customer adoption. […] Our customer base is experiencing double-digit growth in dealer-to-dealer volumes, sellers, and buyers. I noticed that the largest physical auction chain recently acquired two new physical auctions, so they seem to be continuing to invest in that space, while we are primarily focused on digital.

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ACV Auctions Inc. (ACVA)

ACV runs a pure-play digital dealer-to-dealer wholesale auction marketplace — the online whole-car channel adjacent to Copart's own whole-car/wholesale auctions, built on the same physical-to-digital migration thesis Copart pioneered in salvage. Its explicitly named rivals are Manheim, ADESA and OPENLANE, not Copart, because ACV's supply is dealer trade-ins rather than insurance total-loss vehicles — a largely different pool. Exhibits are drawn from its 10-K and earnings calls.

ACV's CEO puts a number on the runway: by ACV's estimate roughly 70% of dealer-wholesale volume still transacts at physical auctions, with digital conversion its core growth lever. It is the same physical-to-digital shift Copart rides in salvage, here quantified for the dealer-wholesale pool that overlaps Copart's whole-car business.

George Chamoun, CEO, Q&A response to Andrew Boone (Q4 FY2025 earnings call): dealer wholesale is still largely driven by physical auctions, which account for 70% of the business. Our goal remains to shift more of this physical auction business to digital platforms, and we are seeing progress in that area due to our differentiated offerings.

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ACV's FY2025 10-K lays out an integrated stack — online auction plus condition inspections and True360 reports, data/pricing tools (ACV MAX, ClearCar), ACV Transportation and ACV Capital financing. It mirrors the auction-plus-services moat Copart built in salvage (inspection/condition data, transport, buyer financing), applied to dealer wholesale.

We help dealers source and manage inventory and accurately price their vehicles as well as process payments, transfer titles, manage arbitrations, and finance and transport vehicles. […] Our comprehensive suite of services includes ACV Transportation, ACV Capital, and our Customer Assurance offerings […] Our True360 Reports are used by dealers and commercial partners to provide transparent vehicle information to potential buyers […] Our ACV MAX inventory management system enables dealers to accurately price their wholesale and retail inventory. More recently, we added ClearCar, an artificial intelligence-powered suite of tools for dealers to build and enhance their trade-in process.

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LKQ Corporation (LKQ)

LKQ is the largest alternative/recycled auto-parts supplier and one of the biggest institutional buyers of salvage vehicles — it does not run auctions, it bids at them. Its disclosures corroborate, from the buyer's side, two things central to Copart's core salvage business: the concentration and pricing power of the salvage-auction operators, and the total-loss-versus-repairable economics that determine how many vehicles flow into salvage auctions. Exhibits are drawn from its 10-K and earnings calls.

LKQ, one of the largest buyers of salvage vehicles, tells its own investors that "a small number of companies control a large percentage of the salvage auction market," that it holds no contracts with those operators, and that a fee increase or loss of access would raise its costs — a candid buyer-side confirmation of the concentration and pricing power that underpin Copart's economics (FY2024 Form 10-K, Risk Factors).

Most of our wholesale recycled and a portion of our self service inventory is obtained from vehicles offered at salvage auctions that are owned and operated by third party companies. We do not typically have contracts with these auction companies. According to industry analysts, a small number of companies control a large percentage of the salvage auction market. If an auction company prohibited us from participating in its auctions, began competing with us, or significantly raised its fees, our business could be adversely affected through higher costs or the resulting potential inability to service our customers. Moreover, we face competition in the purchase of vehicles from direct competitors, rebuilders, exporters and other bidders. To the extent that the number of bidders increases, it may have the effect of increasing our cost of goods sold for wholesale recycled products.

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LKQ's CEO spells out the estimate-cost-versus-used-car-value threshold that decides whether a damaged vehicle is repaired or "totaled out" — the exact mechanism governing how many vehicles feed salvage auctions. LKQ frames rising used-car values as a headwind (fewer total losses); the same swing is a tailwind to Copart's salvage supply, so the two read the driver as mirror images.

Justin Jude, President & CEO, Q&A response (Q1 FY2026 earnings call): The biggest benefit and the most real-time response that we get on improving repairable claims is on the used car side. So through Q1, used car prices went up 3.6%, 6.2% alone in March. If you think about the estimating process, as soon as an estimate is written, it's immediately compared to that used car value. If it's below the threshold, it turns into a repairable claim. If it's above the threshold, it gets totaled out. So when we see used car prices like in March grow 6.2%, that immediately reflects into the repairable claims.

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LKQ describes its supply engine as buying total-loss vehicles "at regional salvage auctions" and bidding with proprietary software that sets a disciplined maximum bid against inventory and demand — a portrait of the sophisticated institutional demand on the other side of a Copart auction, whose input turns on "the percentage of damaged vehicles declared total losses" (FY2024 Form 10-K, Business).

We procure recycled products for our wholesale operations by dismantling total loss vehicles, typically acquired at regional salvage auctions, and inventorying the parts. The availability and pricing of the salvage vehicles we procure for our wholesale recycled products operations may be impacted by a variety of factors, including the production level of new vehicles and the percentage of damaged vehicles declared total losses. Our bidding specialists are equipped with a proprietary software application that allows them to compare the vehicles at salvage auctions against our current inventory levels, historical demand, and recent average selling prices to arrive at an estimated maximum bid.

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CarMax, Inc. (KMX)

CarMax is the largest US used-vehicle retailer and also operates one of the largest US wholesale auctions (dealer-only, virtual since fiscal 2021), disposing of trade-ins that fail its retail standards. That wholesale-auction business overlaps Copart's whole-car wholesale, but only peripherally and structurally differently: CarMax auctions vehicles it owns outright, as principal, whereas Copart is a fee-based consignment agent for insurance sellers — hence two exhibits.

CarMax's wholesale auctions run a principal/inventory model: it buys ~1.1 million vehicles a year, retails about half, and sends the rest — cars it owns outright — to dealer-only auctions at a ~99% sell-through (10-K for the fiscal year ended February 28, 2026). That is the structural opposite of Copart, which never takes title and instead auctions insurers' total-loss vehicles on consignment for a fee.

In fiscal 2026, we purchased approximately 1.1 million vehicles from consumers and dealers. […] Based on age, mileage or condition, approximately half of the vehicles acquired through our appraisal processes meet our retail standards. Those vehicles that do not meet our retail standards are sold to licensed dealers through our wholesale auctions. Unlike many other auto auctions, we own all the vehicles that we sell in our auctions, which allows us to maintain a high auction sales rate. This high sales rate, combined with dealer-friendly practices, makes our auctions an attractive source of vehicles for licensed dealers. […] For fiscal 2026, our average auction sales rate was approximately 99%.

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CarMax states its wholesale auctions compete with other in-person and online auctions, predominantly sell older, higher-mileage vehicles, and have been "primarily conducted virtually" since fiscal 2021. The same 10-K/MD&A reports 538,203 wholesale units sold (down 1.1%) at about $974 gross profit per unit and, per the FY2026 calls, roughly $8,000 average selling price — an online whole-car auction an order of magnitude smaller than Copart's salvage throughput and skewed to aged trade-ins.

Our wholesale auctions compete with other automotive in-person and online auctions. These competitors auction vehicles of all ages, while CarMax’s auctions predominantly sell older, higher mileage vehicles. Since fiscal 2021, our wholesale auctions have primarily been conducted virtually.

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Carvana Co. (CVNA)

Carvana is primarily an online used-vehicle retailer, but its 2022 acquisition of ADESA's US physical auction network and its ADESA Clear digital wholesale marketplace overlap Copart on whole-car wholesale — the weakest, most indirect link in this set. Carvana is repurposing much of the ADESA footprint toward retail reconditioning rather than scaling it as a standalone auction network, so two exhibits scope the overlap without overstating it.

Carvana's FY2025 10-K sizes the only Copart-comparable asset it owns: the 2022 ADESA US acquisition added 56 physical auction locations, of which 16 had been converted to reconditioning (IRC) capabilities by year-end 2025. Carvana is folding retail and wholesale into single sites — i.e. repurposing the physical auction network toward its retail business rather than scaling it as a salvage- or whole-car-auction platform like Copart.

Further, the acquisition of ADESA US Auction, LLC in 2022 provided us with 56 additional locations, which we have been building out to increase our reconditioning capacity and the number of inventory pools closer to customers. We are integrating ADESA sites to combine retail and wholesale capabilities within single locations over time, enhancing both retail production and wholesale disposition. As of December 31, 2025, 16 of these ADESA auction sites have been built out to provide IRC capabilities, and the remaining sites provide continued potential for further growth

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Carvana's CEO maps the network: of 74 sites, 41 are labeled wholesale-only (the original 56 ADESA sites less 15 converted), plus ADESA Clear — its digital auction capability — now at 12 former inspection centers. The physical-yards-plus-online-auction structure is directly comparable to Copart's, and the FY2025 10-K reports its ADESA-powered wholesale marketplace transacted about 1.0 million units in 2025, though at far lower per-unit economics than Copart's insurance-salvage core.

Ernest Garcia, Chairman & CEO, Q&A response to Jeffrey Lick (Q3 2025 earnings call): In that graph, we've got 74 sites. We now have 41 that we label as wholesale only. That's the original 56 ADESA sites minus the 15 where we have added reconditioning capabilities. And so those 15 now represent both wholesale capable and retail capable sites. We have 6 sites that are just retail. Those are the 18 inspection centers that we had prior, minus the 12 where we've added ADESA Clear, which is a digital auction capability. And then we've got 27 that are both, which is the sum of the 12 inspection centers that have ADESA Clear plus the 15 integration sites where we've added reconditioning capabilities to ADESA. So we now have 27 sites where we're well positioned to handle any type of car very efficiently

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Competitors

RB Global, Inc. (IAA / Insurance Auto Auctions) (RBA)

OPENLANE, Inc. (formerly KAR Auction Services / ADESA) (OPLN)

ACV Auctions Inc. (ACVA)

LKQ Corporation (LKQ)

CarMax, Inc. (KMX)

Carvana Co. (CVNA)

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