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Copart sells used, wholesale and repairable vehicles in weekly and bi-weekly online auctions to buyers ranging from consumers to automotive businesses around the world. Copart provides vehicle sellers with a range of services to process and sell repairable and clean title vehicles over the internet, using its patented virtual auction technology ...
Copart's net income rose to $361.2 million, or 37 cents per share for the quarter ended October 31, from $332.5 million, or 34 cents per share a year earlier. (Reporting by Raechel Thankam Job ...
Manheim, Inc. is an automobile auction company. As a subsidiary of Cox Automotive, a subsidiary of privately owned Cox Enterprises, Inc. based in Atlanta, Georgia, Manheim's primary business is wholesaling vehicles via a bidding process using traditional and online formats.
Most car dealerships do not pay cash for the vehicles they buy at auto auctions. [23] They rely on inventory financing, a line of credit extended by a bank or other institution to acquire vehicles. [24] This is known in industry parlance as floorplanning (floor planning) or simply "flooring" vehicle inventory. [25]
Shares of Copart (NAS: CPRT) hit a 52-week high on Friday. Let's take a look at how the company got there and whether clear skies are still in the forecast. How it got hereWith the used car market ...
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