Competition

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 (IAA) (RBA)

RB Global owns IAA (Insurance Auto Auctions), Copart's head-to-head rival in the insurance salvage-auction duopoly. Its filings name Copart directly and quantify salvage share, average selling prices and contract wins.

RB Global's 10-K competition disclosure names Copart, Inc. as its primary competitor in the insurance-sourced salvage segment.

In the automotive sector, we provide services to the salvage and non-salvage segments; our sellers on the salvage segment are comprised of primarily insurance companies seeking transaction solutions for their damaged or low-value vehicles. […] We primarily compete with Copart, Inc. and several other independent used vehicle auction companies. In the non-salvage sale segment, we compete with Adesa, Manheim, ACV Auctions and other independent auctioneers offering online and live wholesale solutions.

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IAA's CEO frames FY2026 salvage results — ~10% U.S. insurance ASP growth, +1% units and a claimed fifth straight quarter of market outperformance — while calling the market competitive.

James Kessler, CEO: gross returns measured as the salvage values as a percentage of pre-accident cash value continue to expand, supporting approximately 10% year-over-year growth in U.S. insurance Average Selling Prices. […] 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.

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RB Global's 10-K lists IAA salvage-contract wins and geographic expansion, including a ~65,000-unit annual sole-salvage deal with Suncorp in Australia.

On November 6, 2025, we announced that IAA secured an opportunity to expand its existing remarketing services to support an increase in government fleet vehicle volume through its already successful relationship with the U.S. General Services Administration. […] During the third quarter of 2025, IAA processed its first units for Suncorp Group in Australia. This represented IAA's expansion into Australia and followed the announcement in the fourth quarter of 2024 that IAA had been selected as the sole salvage partner of Suncorp Group, with an estimated 65,000 units annually once fully operational.

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OPENLANE (KAR Auction Services) (KAR)

OPENLANE (formerly KAR) is the pure-play digital wholesale used-vehicle marketplace competing with Copart's whole-car/dealer auctions; it sizes the wholesale TAM and lists salvage auction companies among its competitors.

OPENLANE sizes the U.S./Canada wholesale used-vehicle market it shares with Copart at roughly 15 million vehicles.

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. […] OPENLANE is a leading digital wholesale marketplace and offers a compelling value proposition in terms of speed, ease and outcomes for buyers and sellers.

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OPENLANE's competition risk factor names its rivals and lists 'salvage auction companies' — Copart's core segment — among its sources of competition.

We face significant competition for the supply of used vehicles, the buyers of those vehicles and the floorplan financing of these vehicles. Our principal sources of competition primarily come from: (i) large, established competitors (e.g., Manheim, ADESA U.S. (Carvana), America's Auto Auction, ACV Auctions, EBlock and NextGear Capital), (ii) emerging and smaller providers, including new or local vehicle remarketing venues and dealer financing services, and (iii) other participants in the automotive industry with vehicle remarketing or financing capabilities (e.g., salvage auction companies, rental car companies, automobile retailers and wholesalers). […] The dealer-to-dealer space in particular is experiencing a digital disruption as competitors and new market participants introduce new technologies.

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OPENLANE's CEO claims dealer-volume share gains and pegs the U.S. dealer-to-dealer market at ~30% digital / 70% physical — the shift Copart also targets.

Peter Kelly, CEO: based on our analysis of industry data for dealer-to-dealer, we outperformed the physical auction industry during this heightened period as well as for the full quarter. In fact, our year-over-year dealer volumes grew at nearly double the rate of the broader industry, and we gained market share. […] Also, our data indicates that in Q1, approximately 30% of the US dealer-to-dealer market was digital, with 70% still physical.

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ACV Auctions (ACVA)

ACV Auctions is the fast-growing online dealer-to-dealer wholesale auction platform overlapping Copart's whole-car marketplace, with condition-report, transportation and data services mirroring Copart's non-salvage stack.

ACV Auctions frames Marketplace Units as a measure of its 'market share of wholesale transactions in the United States.'

Marketplace Units is a key indicator of our potential for growth in Marketplace GMV and revenue. It demonstrates the overall engagement of our customers and our market share of wholesale transactions in the United States.

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ACV Auctions' competition section maps the digital wholesale-auction field — Manheim, ADESA/Carvana, OPENLANE — the whole-car arena adjacent to Copart.

We mainly compete with large, national vehicle auction companies, such as Manheim, a subsidiary of Cox Enterprises, Inc., Adesa, a subsidiary of Carvana, and OPENLANE. The physical vehicle auction market in North America is largely consolidated, with Manheim and Adesa serving as large players in the market. Manheim has expanded into online wholesale marketplaces and auctions, and OPENLANE is competing in the online wholesale auction market. However, we do compete with smaller chains of auctions and independent auctions in the physical market. We also compete with a number of smaller digital marketplace companies.

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ACV Auctions' CFO ties promotional pricing to accelerating unit growth and a claimed 16% market-share gain in September.

Bill Zerella, CFO: This performance reflects 10% unit growth and Auction & Assurance ARPU of $508, which grew modestly year-over-year but declined 3% quarter-overquarter. The sequential decline resulted from targeted volume pricing and ACV Guarantee promotions we implemented to support our seller acquisition strategies. We were pleased to see the promotional activity deliver early returns, with unit growth accelerating in September to 13%, reflecting 16% market share gains.

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Carvana (ADESA) (CVNA)

Carvana owns ADESA's U.S. physical auctions and runs the ADESA Clear digital auction, making it a direct competitor in vehicle remarketing and a rival buyer for the same wholesale supply.

Carvana's 10-K details the build-out of 56 acquired ADESA auction sites into combined retail/wholesale locations — the physical-auction network overlapping Copart and IAA.

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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CarMax (KMX)

CarMax runs its own virtual wholesale auctions of appraisal-sourced vehicles, competing with Copart's whole-car dealer auctions on an owned-inventory model.

CarMax's 10-K states its wholesale auctions 'compete with other automotive in-person and online auctions,' conducted virtually since fiscal 2021.

In addition, we believe our willingness to appraise and purchase a customer’s vehicle, whether or not the customer is buying a vehicle from us, provides a competitive sourcing advantage for retail vehicles. Our high volume of appraisal purchases, further supported by our online instant appraisal offers and MaxOffer, supplies not only a large portion of our retail inventory, but also provides the scale that enables us to conduct our own wholesale auctions to dispose of vehicles that do not meet our retail standards.

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.

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CarMax contrasts its owned-inventory auction model — ~1.1 million vehicles bought, ~99% auction sales rate — with consignment marketplaces like Copart.

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. We continue to further enhance our auction products to improve dealer experiences. For fiscal 2026, our average auction sales rate was approximately 99%.

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LKQ Corporation (LKQ)

LKQ is a leading buyer of total-loss vehicles at salvage auctions — a large participant in Copart's core salvage channel whose commentary illuminates the total-loss supply that feeds it.

LKQ's 10-K describes buying total-loss vehicles at regional salvage auctions using proprietary bidding software — placing it as a buyer inside Copart's salvage channel.

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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LKQ's CEO explains the secular rise in insurance total-loss frequency — the same driver that feeds Copart's salvage-auction volume.

Justin Jude, President & CEO: If you look back at total loss over the last decade, it definitely has increased substantially. A lot of the reason why it has increased is just better accuracy. Ten years ago, the estimating tools weren't as sophisticated. A vehicle would get in a wreck and they would estimate the repair cost at, say, $5,000; as repair work progressed, it could become a $8,000 or $9,000 repair. They weren't as accurate on whether the car should have been totaled. With AI and other technologies that carriers and estimatic tools are using, they're able to determine earlier that a car is a total loss. That's a big reason why some of the total loss rates shot up. I think it's all based on economics: cars become more complex and more expensive, parts and repairs are becoming more expensive. If those things stay in line like normal, then I don't see total loss rates moving much over the next decade or so.

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