Copart Expands Operations into Germany
Copart has announced the acquisition of WOM Wreck Online Marketing Aktiengesellschaft, located in Ettlingen, Germany, a leading European salvage valuation and marketing platform primarily serving the insurance markets in Germany. The WOM platform brings together buyers and sellers of salvage vehicles.
The valuation of salvage vehicles by WOM helps determine the ultimate amount of the claim payment to policyholders and is an integral part of the claim settlement process. Copart looks forward to developing and enhancing the WOM platform and providing enhanced values for vehicle sellers, many of whom are already Copart customers elsewhere in the world.
WOM will become part of our European operations which is headquartered in the United Kingdom.
"Copart is excited to enter the German market, which as world's fourth largest auto market, and is a key element of our European expansion. Following our recent entries into the UAE and Brazil, the addition of Wreck Online Marketing is another crucial step in our global strategy," said Copart's CEO, Jay Adair. "We are very pleased to welcome Wreck Online Marketing to the Copart family and look forward to bringing our expertise in vehicle remarketing to Germany and across Europe as we continue to provide our unique value proposition to insurance companies throughout the world."
About Wreck Online Marketing
WOM WreckOnlineMarketing AG. WOM is one of Europe's largest salvage valuation platforms listing vehicles on behalf of many German insurance companies. To view WOM's extensive range of vehicles and to register to bid go to www.wreckonlinemarket.com.
Copart sells more than one million vehicles each year through VB2, our patented two-stage internet sales technology.
Members all over the world have come to Copart because of our extensive inventory with more than 50,000 vehicles available for bidding each day. Members can choose from classics, early or late model cars, trucks, SUVs, motorcycles, boats, snowmobiles, jet skis, recreational vehicles, and more. To become a Copart Member, please visit our How to Buy page.
Copart sells vehicles for a variety of consignors including finance companies, banks, dealers, fleets, rental car companies and the insurance industry. Copart also sells vehicles for the public through its fast, easy service called CopartDirect, and for franchised and independent auto dealers through its Copart Dealer Services (CDS) division. Copart has more than 150 facilities throughout the United States, Canada, United Kingdom, Brazil and the UAE,allowing us to be closer to both our Members and Sellers.
Copart was founded in 1982 by CEO Willis J. Johnson, a true American success story. Johnson grew up learning about business from his father – an entrepreneur who dabbled in everything from dairy farming to running restaurants and building houses. Johnson took that entrepreneurial spirit, along with a strong work ethic and a passion for change, and started Copart with just one salvage yard in California. In 1994, he took Copart public (NASDAQ: "CPRT"), raising the money needed to expand the company across the United States. The development of VB2 transformed Copart from a salvage vehicle auction company into a technology company offering a global remarketing platform that links buyers and sellers around the world.
Johnson's vision has helped Copart tear down barriers that make it difficult or time-consuming to sell or buy cars. Copart is also dedicated to something called "legendary service" – service that leaves our customers going "WOW! How did they do that?"
Copart's success has earned us a place on Forbes "200 Best Small Companies" list nine years in a row. Copart was also featured on the television show, World's Best as "The World's Best Remarketing Company."
Copart UK's nationwide network of 13 facilities the company provides a range of vehicle remarketing services to the UK insurance and automotive industries. Via www.copart.co.uk members can view and bid on more than 5000 salvage and used vehicles each day utilising the companies VB2 technology. To become a member please visit the how to buy page at www.copart.co.uk/c2/how_to_buy.
In August 2012 Copart launched its first operation in United Arab Emirates. To find out how to register to bid and win on these vehicles via the UAE VB2 auctions visit www.copart.ae.
On the 5th November 2012, Copart Inc announced the acquisition of Central de Leiloes LTDA, a leading salvage vehicle auction company based in Sao Paulo. From the companies 5 facilities the company provides services to many of Brazil's leading automobile insurance companies. To find out more, go to www.copart.com.br or www.centraldeleiloes.com.br.
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