Dallas, Texas — Copart, a Dallas-based salvage auction company that sells damaged and total loss vehicles for insurers, has released results for the quarter that ended October 31.
The report shows the quarter saw the highest insurance vehicle selling prices in the company’s history as well as increases in the number of vehicles being declared total losses. The company said the average price for a U.S. insurance vehicle rose 8.4 percent from a year earlier and the global average increased 6.8 percent. Both figures set new records.
The auction platform reported that in the United States, 22.6 percent of damaged vehicles were declared too costly to repair for the year through September. That figure is up from last year and mirrors heavier repair costs and more complex vehicle systems. While the volume of vehicles processed was lower, the company posted revenue of about US$1.16 billion. Net income came in near US$404 million. Earnings per share rose to US$0.41 from US$0.37 a year earlier.
The broader U.S. used-vehicle market is showing similar strength. The average transaction price for a three-year-old used vehicle hit US$30,522 in the first quarter of 2025, up 2.3 percent from US$29,844 a year ago.
That marks the first time that average topped US$30,000. The gap between new-car prices and near-new used cars is shrinking and now sits at about US$17,000 — a narrower margin than typical. The Manheim Used Vehicle Value Index stood at 205.0 in mid-November 2025, showing a 1.1 percent increase from the previous month but a small year-over-year decline. In October 2025, the average retail listing price for a used car was about US$25,512, after about 25 straight weeks of declines in wholesale used-car values.
International buyer demand is proving especially important for Copart’s pricing power. The company said overseas purchasers paid, on average, 38 percent more than domestic buyers for comparable vehicles during the quarter. That premium helped support record selling prices within a tighter used inventory environment. The Dallas operator’s online auction network now includes about one million registered members across more than 185 countries. It operates more than 250 locations globally.
