The Company provides vehicle suppliers, insurance companies, with a range of services to process and sell salvage vehicles over the Internet through the Company's Virtual Bidding Second Generation Internet auction-style sales technology.
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Copart strikes me as a great stock to own during a down market, which I believe is where we are headed. I agree with those who foresee a prolonged consumer credit crisis as a result of the subprime mortgage meltdown. People feel less rich when their primary asset - their home - loses value. They will be postponing new car purchases, which bodes well both for direct sales of salvage cars to consumers, and to parts re-manufacturers.