Copart, Inc. is making substantial investments in its operations and storage capabilities as it prepares for the active storm season and shifts in insurance cycles. The company recently opened a new facility in Hixon, Staffordshire, which expands vehicle storage capacity by 15% in the West Midlands. This move is aimed at meeting increased demand from insurers, particularly during the storm-heavy winter months, as reported by Insurance Times.

In preparation for catastrophic events, Copart has strengthened its readiness by securing temporary storage locations and mobilizing necessary resources. Prior to Hurricane Florence, the company put in place 17 temporary storage sites and coordinated nearly 100 loaders and numerous tow trucks to facilitate swift responses. Additionally, Copart is investing in technology with tools like Title Express, which handles over 1 million titles annually, enhancing efficiency for its insurance clients, according to Nasdaq.

Despite challenges such as a 14% year-over-year decline in the Manheim used vehicle value index, Copart has maintained robust growth. The company posted over 11% growth in global unit sales, with notable increases in both U.S. and international markets. This growth, including a 6% rise in their insurance business, is driven by trends favoring vehicle totaling over repairs due to rising labor costs and vehicle complexity.