AutoNation, America’s largest automotive retailer, on Thursday said 2006 first-quarter net income from continuing operations was $US98m or $0.37 per share, compared to $89m or $0.33 per share a year ago, an increase of 12% per share.

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Q1 revenue rose 4% to $4.7bn, with revenue growth in new vehicles of 2%, retail used vehicles of 5%, parts and service of 5%, and finance and insurance of 5%.


“New vehicle revenue was driven by a 15% increase in premium luxury revenue,”AutoNation said when announcing the results.


Gross profit increased 4% and was up in all areas of the business.


Operating income was up 2% to a first-quarter record of $203m.

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