AutoNation, America's largest retailer of new and used vehicles, has reported record first-quarter 2002 earnings per share of $US0.28, or net income of $91.7 million. The result exceeded by 65 percent the company's Q1 2001 earnings per share of $0.17, or net income of $59.9 million, as across-the-board growth in gross margin, lower inventory-carrying costs, an improved cost structure and the elimination of goodwill amortisation helped results.