Copart (CPRT) Bets On Digital Dealers As Core Volumes Shrink

Copart held its fourth-quarter earnings call on September 10 and disclosed an all-cash agreement to acquire ACV, a digital automotive marketplace platform. ACV facilitated approximately $10 billion in vehicle transactions during the prior year without maintaining physical auction facilities. The company brings more than 22,000 active buyers along with inspection and valuation technology, while Copart contributes over 275 locations, roughly 4 million annually sold vehicles, and approximately 1 m