<PAGE>  1

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-Q/A

(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934


                  For the quarterly period ended June 30, 2001

                                       OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

        For the transition period from __________________ to __________________

Commission           Registrant, State of Incorporation,        I.R.S. Employer
File Number            Address and Telephone Number           Identification No.
________________________________________________________________________________

  1-11255              AMERCO                                     88-0106815
                      (A Nevada Corporation)
                      1325 Airmotive Way, Ste. 100
                      Reno, Nevada  89502-3239
                      Telephone (775) 688-6300


  2-38498             U-Haul International, Inc.                  86-0663060
                      (A Nevada Corporation)
                      2727 N. Central Avenue
                      Phoenix, Arizona 85004
                      Telephone (602) 263-6645

Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes [X] No [ ].

21,396,237 shares of AMERCO Common Stock, $0.25 par value were outstanding at
May 03, 2002.

5,385 shares of U-Haul International, Inc. Common Stock, $0.01 par value, were
outstanding at May 03, 2002. U-Haul International, Inc. meets the conditions set
forth in General Instruction H(1)(a) and (b) of Form 10-Q and is therefore
filing this form with the reduced disclosure format.
<PAGE>  2
                                TABLE OF CONTENTS



PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

         a)  Condensed Consolidated Balance Sheets as of June 30, 2001
             (unaudited) and March 31, 2001 (unaudited)...................    4

         b)  Condensed Consolidated Statements of Earnings for the Quarters
             ended June 30, 2001 and 2000 (unaudited).....................    6

         c)  Condensed Consolidated Statements of Comprehensive Income
             for the Quarters ended June 30, 2001 and 2000 (unaudited)....    7

         d)  Condensed Consolidated Statements of Cash Flows for the
             Quarters ended June 30, 2001 and 2000 (unaudited)............    8

         e)  Notes to Condensed Consolidated Financial Statements -
             June 30, 2001 (unaudited), March 31, 2001 (unaudited) and
             June 30, 2000 (unaudited)....................................    9

Item 2.  Management's Discussion and Analysis of Financial Condition
         and Results of Operations........................................   24

Item 3.  Quantitative and Qualitative Disclosures About Market Risk.......   31

PART II. OTHER INFORMATION

Item 1.  Legal Proceedings................................................   32

Item 6.  Exhibits and Reports on Form 8-K.................................   33
<PAGE>  3
                                INTRODUCTORY NOTE


     This amendment to Form 10-Q is being filed to restate the interim financial
statements previously filed for the quarter ended June 30, 2001 to reflect the
consolidation of SAC Holding Corporation and its consolidated subsidiaries (SAC
Holdings or SAC) with AMERCO and its consolidated subsidiaries (AMERCO or the
Company) due to a revised interpretation of EITF 90-15 by the Company's
independent public accountants.  The Company concurs with this revised
interpretation.  AMERCO has no ownership interest in SAC, nor does it guarantee
the debt of SAC.  Further, the holders of such SAC notes have no recourse to the
assets of AMERCO.  The condensed consolidated financial statements presented
herein include the accounts of AMERCO and SAC Holdings.  All material
intercompany accounts and transactions have been eliminated in consolidation.








<PAGE>  4
                         PART I.  FINANCIAL INFORMATION

                          ITEM 1.  FINANCIAL STATEMENTS


      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

                      Condensed Consolidated Balance Sheets




                                                     June 30,     March 31,
Assets                                                 2001         2001
                                                  --------------------------
                                                          (Unaudited)
                                                    (in thousands)

Cash and cash equivalents                        $     44,077       52,788
Inventories, net                                       79,992       85,330
Prepaid expenses                                       17,753       14,416
Investments, fixed maturities                         950,660      952,482
Investments, other                                    193,773      207,494
Other assets                                          465,717      449,380
Minority interest assets                               17,667       17,907
                                                   -----------------------

Property, plant and equipment, at cost:
  Buildings and improvements                        1,119,713    1,068,956
  Rental trucks                                     1,081,395    1,037,653
  Other property, plant, and equipment                816,153      834,463
                                                   -----------------------
                                                    3,017,261    2,941,072
  Less accumulated depreciation                     1,213,029    1,187,103
                                                   -----------------------

Total property, plant and equipment                 1,804,232    1,753,969
                                                   -----------------------




Total Assets                                     $  3,573,871    3,533,766
                                                   =======================





























The accompanying notes are an integral part of these consolidated financial
statements.
<PAGE>  5
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

                Condensed Consolidated Balance Sheets, Continued







Liabilities and                                      June 30,     March 31,
 Stockholders' Equity                                  2001         2001
                                                  --------------------------
                                                          (Unaudited)
                                                    (in thousands)

Liabilities:
 AMERCO's notes and loans payable                $  1,143,271    1,156,848
 SAC Holdings' notes and loans payable,
  non-recourse to AMERCO                              275,024      257,109
 Policy benefits and losses, claims and
  loss expenses payable                               677,915      668,830
 Liabilities from premium deposits                    523,772      522,207
 Other liabilities                                    386,807      393,442
                                                   -----------------------
    Total liabilities                               3,006,789    2,998,436

Contingent liabilities and commitments

Stockholders' equity:
 Serial preferred stock -
  Series A preferred stock                                -            -
  Series B preferred stock                                -            -
 Serial common stock -
  Series A common stock                                 1,441        1,441
 Common stock                                           9,122        9,122
 Additional paid-in capital                           236,002      236,002
 Accumulated other comprehensive income               (30,066)     (40,709)
 Retained earnings                                    776,937      755,174
 Cost of common shares in treasury, net              (411,435)    (410,527)
 Unearned ESOP shares                                 (14,919)     (15,173)
                                                   -----------------------
    Total stockholders' equity                        567,082      535,330


                                                   -----------------------

Total Liabilities and Stockholders' Equity       $  3,573,871    3,533,766
                                                   =======================























The accompanying notes are an integral part of these consolidated financial
statements.
<PAGE>  6
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

                  Condensed Consolidated Statements of Earnings

                             Quarters ended June 30,
                                   (Unaudited)

                                                        2001         2000
                                                  --------------------------
                                                     (in thousands, except
                                                   share and per share data)

Revenues
  Rental revenue                                 $    358,071      337,939
  Net sales                                            68,789       63,295
  Premiums                                            100,330       54,987
  Net investment and interest income                   15,363       16,129
                                                   -----------------------
      Total revenues                                  542,553      472,350

Costs and expenses
  Operating expenses                                  262,200      239,828
  Cost of sales                                        36,409       34,495
  Benefits and losses                                  91,432       42,235
  Amortization of deferred policy
   acquisition costs                                    9,794        7,869
  Lease expense                                        46,342       40,434
  Depreciation, net                                    31,470       23,418
                                                   -----------------------
      Total costs and expenses                        477,647      388,279

Earnings from operations                               64,906       84,071

  Interest expense                                     26,097       27,053
                                                   -----------------------

Pretax earnings                                        38,809       57,018

Income tax expense                                    (13,485)     (21,142)
                                                   -----------------------

Earnings before minority interest                      25,324       35,876
Minority interest                                        (321)       1,736
                                                   -----------------------

      Net earnings                               $     25,003       37,612
                                                   =======================

Basic and diluted earnings per common share:     $       1.02         1.58
                                                   =======================


Basic and diluted average common shares
  outstanding:                                     21,280,361   21,718,988
                                                   =======================























The accompanying notes are an integral part of these Consolidated financial
statements.
<PAGE>  7
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

            Condensed Consolidated Statements of Comprehensive Income

                             Quarters ended June 30,
                                   (Unaudited)

                                                        2001         2000
                                                   -----------------------
                                                         (in thousands)
Comprehensive income:
  Net earnings                                   $     25,003       37,612
    Changes in other comprehensive income:
     Foreign currency translation                       1,497         (465)
     Fair market value of cash flow hedge                 357           24
     Unrealized gain on investments                     8,789       (2,258)
                                                   -----------------------

     Total comprehensive income                  $     35,646       34,913
                                                   =======================




















































The accompanying notes are an integral part of these Consolidated financial
statements.
<PAGE>  8
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

                 Condensed Consolidated Statements of Cash Flows

                             Quarters ended June 30,
                                   (Unaudited)


                                                        2001         2000
                                                  ------------------------
                                                        (in thousands)

Net cash provided
 by operating activities                         $     45,409       37,402

Cash flows from investing activities:
  Purchases of investments:
    Property, plant and equipment                     (95,305)    (201,487)
    Fixed maturities                                  (18,652)     (23,504)
    Real estate                                           -            -
    Mortgage loans                                       (561)      (4,055)
  Proceeds from sale of investments:
    Property, plant and equipment                      13,887       69,248
    Fixed maturities                                   31,696       24,341
    Mortgage loans                                      3,817        6,215
  Changes in other investments                          4,806      (36,217)
                                                   -----------------------

Net cash used by
 investing activities                                 (60,312)    (165,459)
                                                   -----------------------

Cash flows from financing activities:
  Net change in short-term borrowings                 (13,578)     (14,258)
  Principal payments on notes                          23,731      105,061
  Investment contract deposits                         37,477       20,495
  Investment contract withdrawals                     (35,713)     (17,368)
  Proceeds from minority interest                         -            -
  Changes in other financing activities                (5,725)      (5,252)
                                                   -----------------------

Net cash provided by
 financing activities                                   6,192       88,678

Decrease in cash and cash equivalents                  (8,711)     (39,379)

Cash and cash equivalents at
 beginning of period                                   52,788       48,445
                                                   -----------------------

Cash and cash equivalents at
 end of period                                   $     44,077        9,066
                                                   =======================






















The accompanying notes are an integral part of these Consolidated financial
statements.
<PAGE>  9

      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

              Notes to Condensed Consolidated Financial Statements

                 June 30, 2001, March 31, 2001 and June 30, 2000
                                   (Unaudited)


1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

ORGANIZATION
     AMERCO, a Nevada corporation (AMERCO), is the parent company for U-Haul
International, Inc. (U-Haul), which conducts moving and storage operations;
Amerco Real Estate Company (Real Estate), which conducts real estate operations;
Republic Western Insurance Company (RepWest), which conducts property and
casualty insurance operations; and Oxford Life Insurance Company (Oxford), which
conducts life insurance operations.

     As of June 30, 2001, SAC Holding Corporation (SAC Holdings), a Nevada
corporation, is owned by Mark V. Shoen.  Mark V. Shoen is the beneficial owner
of 15.6% of AMERCO's common stock and is an executive officer of U-Haul.

     This amendment is being filed and the accounts of AMERCO and SAC Holdings
are presented as consolidated due to a revised interpretation of EITF 90-15 by
AMERCO's independent public accountants.  AMERCO agrees with this
interpretation.  The accompanying condensed consolidated financial statements as
of and for the periods ending March 31, 2001 and June 30, 2001 have been
restated to reflect such consolidation.  The following table presents the impact
of such consolidation on the dates presented:
<TABLE>
<CAPTION>


                                      June 30, 2001                     March 31, 2001
                                -------------------------         -------------------------
                                As reported(1)As restated         As reported(1)As restated
                                      (Unaudited)                         (Unaudited)
                                     (in thousands)                      (in thousands)
     <S>                          <C>           <C>                 <C>           <C>

     Assets                       3,403,994     3,573,871           3,384,064     3,533,766
     Liabilities                  2,756,876     3,006,789           2,768,698     2,998,436
     Stockholders' equity           647,118       567,082             615,366       535,330
</TABLE>

     (1) As reported in the Company's June 30, 2001 Form 10-Q filed on August
10, 2001 and March 31, 2001 Form 10-K, filed on July 2, 2001, respectively,
prior to the consolidation of SAC Holdings described above.

     The consolidation of AMERCO with SAC Holdings had no impact on the
consolidated net earnings.  The reduction in stockholders' equity is due to the
elimination of gains previously recorded in connection with sales of properties
from AMERCO to SAC Holdings.  Such gains had been previously recognized as a
component of stockholders' equity.  See Note 11.

     During fiscal year 2002, based on in-depth market analysis, U-Haul
increased the estimated salvage value of certain rental trucks.  The effect of
the changes increased net earnings by $678,021 ($0.03 per share) for the quarter
ended June 30, 2001.  The adjustment reflects management's best estimate, based
on information available, of the estimated salvage value of the related rental
trucks.

PRINCIPLES OF CONSOLIDATION
     The condensed consolidated financial statements presented here include the
accounts of AMERCO and its wholly-owned subsidiaries and SAC Holdings and its
consolidated subsidiaries.  All material intercompany accounts and transactions
have been eliminated in consolidation.  AMERCO has not, and has never had any,
ownership interest in SAC Holdings or any of SAC Holdings' subsidiaries, nor
does it guarantee any of the debt of SAC Holdings.  The condensed consolidated
financial statements and notes are presented as permitted by Form 10-Q/A and do
not contain certain information included in AMERCO's annual financial statements
and notes.  For a more detailed breakout of the accounts of AMERCO, refer to
AMERCO's Form 10-K.

     The condensed consolidated balance sheet as of June 30, 2001 and the
related condensed consolidated statements of earnings and the condensed
consolidated statements of comprehensive income for the quarters ended June 30,
2001 and 2000 and the condensed consolidated cash flows for the quarters ended
June 30, 2001 and 2000 are unaudited.  In the opinion of management, all
adjustments necessary for a fair presentation of such condensed consolidated
financial statements have been included.  Such adjustments consisted only of
<PAGE> 10
normal recurring items.  Interim results are not necessarily indicative of
results for a full year.

     The operating results and financial position of RepWest and Oxford have
been consolidated on the basis of a calendar year, and accordingly, are
determined on a one quarter lag for financial reporting purposes.  There were no
effects related to intervening events, which would materially affect the
consolidated financial position or results of operations for the financial
statements presented herein.

     Certain reclassifications have been made to the financial statements for
the quarter ended June 30, 2000 to conform with the current year's presentation.
<PAGE> 11
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

         Notes to Condensed Consolidated Financial Statements, Continued
                                   (Unaudited)


2.  INVESTMENTS

     A comparison of amortized cost to market for fixed maturities is as
     follows:

     March 31, 2001
     --------------       Par Value               Gross       Gross    Estimated
     Consolidated         or number  Amortized  unrealized  unrealized   market
     Held-to-Maturity     of shares     cost      gains       losses      value
                          ------------------------------------------------------
                                               (in thousands)

     U.S. treasury
       securities
       and government
       obligations        $   4,150  $   3,643        194         -       3,837
     U.S. government
       agency mortgage-
       backed securities  $  13,202     13,140        270         (49)   13,361
     Corporate
       securities         $  51,763     50,259      1,640         (97)   51,802
     Mortgage-backed
       securities         $  38,349     37,823        876         (77)   38,622
     Redeemable preferred
       stocks             $ 114,772    114,674        219      (3,793)  111,100
                                       ----------------------------------------

                                       219,539      3,199      (4,016)  218,722
                                       ----------------------------------------

     March 31, 2001
     --------------       Par Value               Gross       Gross    Estimated
     Consolidated         or number  Amortized  unrealized  unrealized   market
     Available-for-Sale   of shares     cost      gains       losses      value
                          ------------------------------------------------------
                                               (in thousands)

     U.S. treasury
       securities
       and government
       obligations        $  41,710  $  43,386      2,091        (100)   45,377
     U.S. government
       agency mortgage-
       backed securities  $  32,157     32,588        836         (18)   33,406
     Obligations of
       states and
       political
       subdivisions       $  16,490     16,646        580        (127)   17,099
     Corporate
       securities         $ 565,653    558,332     17,459     (13,053)  562,738
     Mortgage-backed
       securities         $  32,910     32,674      1,410        (637)   33,447
     Redeemable preferred
       stocks             $   1,280     32,283        280        (567)   31,996
     Redeemable common
       stocks             $     633      6,554        878        (374)    7,058
                                       ----------------------------------------

                                       722,463     23,534     (14,876)  731,121
                                       ----------------------------------------

            Total                    $ 942,002     26,733     (18,892)  949,843
                                       ========================================






<PAGE> 12
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

         Notes to Condensed Consolidated Financial Statements, Continued
                                   (Unaudited)


3.  SUMMARIZED CONSOLIDATED FINANCIAL INFORMATION OF INSURANCE SUBSIDIARIES

     A summarized condensed consolidated balance sheet for RepWest is presented
     below:

                                                           March 31,
                                                     -------------------
                                                       2001        2000
                                                     -------------------
                                                        (in thousands)

    Investments, fixed maturities                  $ 409,210     404,079
    Receivables                                      210,051     162,398
    Due from affiliate                                51,361      22,559
    Other assets                                      71,169      70,230
                                                     -------------------

         Total assets                              $ 741,791     659,266
                                                     ===================

    Policy liabilities and accruals                $ 384,635     338,443
    Unearned premiums                                106,203      69,713
    Other policyholders' funds and liabilities        58,539      40,951
                                                     -------------------
      Total liabilities                              549,377     449,107

    Stockholder's equity                             192,414     210,159
                                                     -------------------

         Total liabilities and
           stockholder's equity                    $ 741,791     659,266
                                                     ===================


     A summarized condensed consolidated income statement for RepWest is
     presented below:

                                                        Quarters ended
                                                           March 31,
                                                     -------------------
                                                       2001        2000
                                                     -------------------
                                                        (in thousands)

    Premiums                                       $  62,178      30,407
    Net investment income                              8,416       8,008
                                                     -------------------
      Total revenue                                   70,594      38,415

    Benefits and losses                               60,267      24,582
    Amortization of deferred
      policy acquisition costs                         5,040       3,174
    Operating expenses                                10,870       8,318
                                                     -------------------
      Total expenses                                  76,177      36,074

    Income (loss) from operations                     (5,583)      2,341
    Income tax benefit (expense)                       1,979        (863)
                                                     -------------------

        Net income (loss)                          $  (3,604)      1,478
                                                     ===================
<PAGE> 13
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

         Notes to Condensed Consolidated Financial Statements, Continued
                                   (Unaudited)


3.   SUMMARIZED  CONSOLIDATED FINANCIAL INFORMATION OF INSURANCE  SUBSIDIARIES,
     continued

     A summarized condensed consolidated balance sheet for Oxford is presented
     below:

                                                           March 31,
                                                     -------------------
                                                       2001        2000
                                                     -------------------
                                                        (in thousands)

    Investments, fixed maturities                  $ 541,450     483,705
    Investments, other                               190,048     154,124
    Receivables                                       28,200      15,283
    Deferred policy acquisition costs                 81,231      73,911
    Due from affiliate                               (10,079)    (10,909)
    Other assets                                      16,189       5,084
                                                     -------------------

        Total assets                               $ 847,039     721,198
                                                     ===================

    Policy liabilities and accruals                $ 183,936     145,290
    Premium deposits                                 523,772     464,179
    Other policyholders' funds and liabilities        18,522      12,880
    Deferred federal income taxes                     14,423      11,006
                                                     -------------------
      Total liabilities                              740,653     633,355

    Stockholder's equity                             106,386      87,843
                                                     -------------------

        Total liabilities and
          stockholder's equity                     $ 847,039     721,198
                                                     ===================


     A summarized condensed consolidated income statement for Oxford is
presented below:

                                                        Quarters ended
                                                           March 31,
                                                     -------------------
                                                       2001        2000
                                                     -------------------
                                                        (in thousands)

    Premiums                                       $  39,633      25,504
    Net investment income                              6,208       5,829
                                                     -------------------
      Total revenue                                   45,841      31,333

    Benefits and losses                               31,165      17,653
    Amortization of deferred
      policy acquisition costs                         4,754       4,695
    Operating expenses                                 7,239       5,730
                                                     -------------------
      Total expenses                                  43,158      28,078

    Income from operations                             2,683       3,255
    Income tax expense                                  (960)     (1,069)
                                                     -------------------

        Net income                                 $   1,723       2,186
                                                     ===================

<PAGE> 14
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

         Notes to Condensed Consolidated Financial Statements, Continued
                                   (Unaudited)


4.  CONTINGENT LIABILITIES AND COMMITMENTS

     During the quarter ended June 30, 2001, a subsidiary of U-Haul entered into
two transactions whereby the subsidiary sold rental trucks and trailers to an
unrelated third party, which were subsequently leased back.  AMERCO has
guaranteed $9,139,000 of residual values at June 30, 2001 for these assets at
the end of the respective lease terms.  Following are the lease commitments for
the leases executed during the quarter ended June 30, 2001, and subsequently
which have a term of more than one year (in thousands):

                                              Net activity
             Year ended           Lease       subsequent to
              March 31,        Commitments      period end      Total
             --------------------------------------------------------

             2002              $     777            -             777
             2003                    976            -             976
             2004                    976            -             976
             2005                    651            -             651
             2006                    642            -             642
             Thereafter            2,098            -           2,098
                                 ------------------------------------
                               $   6,120            -           6,120
                                 ====================================


     In the normal course of business, AMERCO is a defendant in a number of
suits and claims.  AMERCO is also a party to several administrative proceedings
arising from state and local provisions that regulate the removal and/or clean-
up of underground fuel storage tanks.  It is the opinion of management that
none of such suits, claims or proceedings involving AMERCO, individually, or in
the aggregate, are expected to result in a material loss.


5.  SUPPLEMENTAL CASH FLOWS INFORMATION

     The (increase) decrease in cash flow for receivables, inventories and
accounts payable and accrued liabilities net of other operating and investing
activities follows:

                                                            Quarters ended
                                                               June 30,
                                                         2001          2000
                                                       ---------------------
                                                           (in thousands)

        Receivables                                 $  (15,178)           (46)
                                                       ======================

        Inventories                                 $    5,338         (2,917)
                                                       ======================

        Accounts payable and accrued expenses       $  (16,520)        (3,561)
                                                       ======================


     Income taxes paid in cash amounted to $78,000 and $262,000 for the quarters
ended June 30, 2001 and 2000, respectively.

     Interest paid in cash amounted to $26,273,000 and $33,124,000 for the
quarters ended June 30, 2001 and 2000, respectively.













<PAGE> 15
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

         Notes to Condensed Consolidated Financial Statements, Continued
                                   (Unaudited)


6.  EARNINGS PER SHARE OF AMERCO

     The following table reflects the calculation of the earnings per share:
<TABLE>
<CAPTION>

                                                               Weighted Average
                                                                Common Shares
                                                 Income          Outstanding       Per Share
                                              (Numerator)       (Denominator)        Amount
                                            --------------     ---------------     ---------
                                                            (in thousands, except
                                                          share and per share data)
<S>                                           <C>                 <C>               <C>
Quarter ended June 30, 2001:
  Net earnings                                $   25,003
  Less:  preferred stock dividends                 3,241
                                                  ------
  Basic and diluted earnings
    per common share                              21,762          21,280,361        $   1.02
                                                  ======          ==========            ====

Quarter ended June 30, 2000:
  Net earnings                                $   37,612
  Less:  preferred stock dividends                 3,241
                                                  ------
  Basic and diluted earnings
    per common share                              34,371          21,718,988        $   1.58
                                                  ======          ==========            ====
</TABLE>




7.  RELATED PARTY TRANSACTIONS

     Sales of properties from AMERCO to SAC Holdings have been eliminated in
consolidation, as presented in note 11.
<PAGE> 16
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

              Notes to Consolidated Financial Statements, Continued
                                   (Unaudited)


8.  NEW ACCOUNTING STANDARDS

       In July 2001, the Financial Accounting Standards Board ("FASB") issued
Statements of Financial Accounting Standards No. 141 (SFAS 141), "Business
Combinations", and No. 142 (SFAS 142), "Goodwill and Other Intangible Assets".

      SFAS 141 supercedes Accounting Principles Board Opinion No. 16 (APB 16),
"Business Combinations".  The most significant changes made by SFAS 141 are: (1)
requiring that the purchase method of accounting be used for all business
combinations initiated after June 30, 2001, (2) establishing specific criteria
for the recognition of intangible assets separately from goodwill, and (3)
requiring unallocated negative goodwill to be written off immediately as an
extraordinary gain (instead of being deferred and amortized).

      SFAS 142 supercedes APB 17, "Intangible Assets".  SFAS 142 primarily
addresses the accounting for goodwill and intangible assets subsequent to their
acquisition (i.e., the post-acquisition accounting).  The provisions of SFAS 142
will be effective for fiscal years beginning after December 15, 2001.  The most
significant changes made by SFAS 142 are: (1) goodwill and indefinite lived
intangible assets will no longer be amortized, (2) goodwill will be tested for
impairment at least annually at the reporting unit level, (3) intangible assets
deemed to have an indefinite life will be tested for impairment at least
annually, and (4) the amortization period of intangible assets with finite lives
will no longer be limited to forty years.

      SFAS No. 141 and 142 are not expected to affect the consolidated financial
position or results of operations.

     SFAS No. 143, Accounting for Asset Retirement Obligations, requires
recognition of the fair value of liabilities associated with the retirement of
long-lived assets when a legal obligation to incur such costs arises as a result
of the acquisition, construction, development and/or the normal operation of a
long-lived asset.  Upon recognition of the liability, a corresponding asset is
recorded at present value and accreted over the life of the asset and
depreciated over the remaining life of the long-lived asset.  The Statement
defines a legal obligation as one that a party is required to settle as a result
of an existing or enacted law, statute, ordinance, or written or oral contract
or by legal construction of a contract under the doctrine of promissory
estoppel.  SFAS 143 is effective for fiscal years beginning after June 15, 2002.
Management has not yet determined the effects of adopting this Statement on the
financial position or results of operations.







<PAGE> 17
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

         Notes to Condensed Consolidated Financial Statements, Continued
                                   (Unaudited)


9. INDUSTRY SEGMENT AND GEOGRAPHIC AREA DATA

     Information concerning operations by industry segment follows:
<TABLE>
<CAPTION>

                     Moving and           Property/             Adjustments      AMERCO
                       Storage     Real   Casualty     Life         and           and
                     Operations   Estate  Insurance  Insurance  Eliminations  SAC Holdings
                     ---------------------------------------------------------------------
                                            (in thousands)

   <S>              <C>          <C>       <C>        <C>         <C>            <C>
   Quarter ended
   June 30, 2001
   -------------
   Revenues:
     Outside        $  425,184     2,415    69,485     45,469          -           542,553
     Intersegment          -      17,329     1,109        372      (18,810)            -
                     ---------   -------   -------    -------     --------       ---------
     Total revenues $  425,184    19,744    70,594     45,841      (18,810)        542,553
   Depreciation/
     amortization   $   31,171     2,815     5,286      4,794          -            44,066
   Interest expense $   26,097    10,207       -          -        (10,207)         26,097
   Pretax earnings
    (loss)          $   37,101     4,608    (5,583)     2,683          -            38,809
   Income tax
    benefit
    (expense)       $  (12,891)   (1,613)    1,979       (960)         -           (13,485)
   Identifiable
     assets         $1,634,954   713,085   741,791    847,039     (362,998)      3,573,871


   Quarter ended
   June 30, 2000
   -------------
   Revenues:
     Outside        $  401,010     2,516    37,828     30,996          -           472,350
     Intersegment          -      17,743       587        337      (18,667)            -
                     ---------   -------   -------    -------     --------       ---------
     Total revenues $  401,010    20,259    38,415     31,333      (18,667)        472,350
   Depreciation/
     amortization   $   24,914     2,752     3,457      5,069          -            36,192
   Interest expense $   27,053    11,333       -          -        (11,333)         27,053
   Pretax earnings  $   47,512     3,910     2,341      3,255          -            57,018
   Income tax
    expense         $  (17,834)   (1,376)     (863)    (1,069)         -           (21,142)
   Identifiable
     assets         $1,447,832   744,519   659,266    721,198     (331,713)      3,241,102
</TABLE>























<PAGE> 18
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

         Notes to Condensed Consolidated Financial Statements, Continued
                                   (Unaudited)


9. INDUSTRY SEGMENT AND GEOGRAPHIC AREA DATA, continued

   Geographic Area Data                                          AMERCO
     (All amounts are in U.S. $'s)        United                  and
                                          States    Canada    SAC Holdings
                                         ---------------------------------
                                                 (in thousands)
   Quarter ended
   June 30, 2001
   -------------
   Total revenues                     $  531,411    11,142       542,553
   Depreciation/amortization          $   43,053     1,013        44,066
   Interest expense                   $   26,045        52        26,097
   Pretax earnings                    $   36,303     2,506        38,809
   Income tax expense                 $  (13,485)      -         (13,485)
   Identifiable assets                $3,517,948    55,923     3,573,871

   Quarter ended
   June 30, 2000
   -------------
   Total revenues                     $  461,763    10,587       472,350
   Depreciation/amortization          $   35,124     1,068        36,192
   Interest expense                   $   27,047         6        27,053
   Pretax earnings                    $   54,717     2,301        57,018
   Income tax expense                 $  (21,142)      -         (21,142)
   Identifiable assets                $3,191,921    49,181     3,241,102





10. SUBSEQUENT EVENTS OF AMERCO

     In January 2002, Real Estate completed the sale of thirty-seven storage
properties to Twenty SAC Self-Storage Corporation, Twenty-One SAC Self-Storage
Corporation, Twenty-Two SAC Self-Storage Corporation and Twenty-Three SAC Self-
Storage Corporation, subsidiaries of SAC Holdings, for $93,679,000.  The Company
received cash and notes from the sale.  The gain on sale will be eliminated in
consolidation.

     In March 2002, Real Estate completed the sale of sixty-two storage
properties to Twenty-Four SAC Self-Storage Corporation, Twenty-Five SAC
Self-Storage Corporation, Twenty-Six SAC Self-Storage Corporation and
Twenty-Seven SAC Self-Storage Corporation, subsidiaries of SAC Holdings, for
$146,852,000.  The Company received cash and notes from the sale.  The gain on
sale will be eliminated in consolidation.

     On August 7, 2001, AMERCO declared a cash dividend of $3,241,000 ($0.53125
per preferred share) to preferred stockholders of record as of August 17, 2001.

     On November 5, 2001, AMERCO declared a cash dividend of $3,241,000
($0.53215) per preferred share) to preferred stockholders of record as of
November 15, 2001.

     On February 6, 2002, AMERCO declared a cash dividend of $3,241,000
($0.53125 per preferred share) to preferred stockholders of record as of
February 18, 2002.


<PAGE> 19
<TABLE>
<CAPTION>
NOTE 11 - CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED)
--------------------------------------------------------------------------------------------------------------------------------

                                                             SAC HOLDING
                                       AMERCO AND           CORPORATION AND
                                      CONSOLIDATED           CONSOLIDATED
                                      SUBSIDIARIES           SUBSIDIARIES          ADJUSTMENTS AND
                                        (AMERCO)            (SAC HOLDINGS)          ELIMINATIONS
                                 ----------------------  --------------------  ------------------------
                                  JUNE 30,   MARCH 31,   JUNE 30,   MARCH 31,   JUNE 30,    MARCH 31,     JUNE 30,    MARCH 31,
                                    2001        2001       2001        2001       2001        2001          2001        2001
                                 ----------  ----------  ---------  ---------  -----------  -----------   ----------  ----------
                                     (IN THOUSANDS)          (IN THOUSANDS)          (IN THOUSANDS)           (IN THOUSANDS)
<S>                              <C>         <C>         <C>        <C>        <C>          <C>           <C>         <C>

                     Assets
Cash and cash equivalents        $   44,067  $   52,778  $      10  $      10  $     -      $     -       $   44,077  $   52,788
Inventories, net                     78,667      84,005      1,325      1,325        -            -           79,992      85,330
Prepaid Expenses                     17,753      14,416        -          -          -            -           17,753      14,416
Investments, fixed maturities       950,660     952,482        -          -          -            -          950,660     952,482
Investments, other                  457,199     464,958      3,910      3,910   (267,336)a)  (261,374)a)     193,773     207,494
                                                                                         b)           b)
                                                                                         c)           c)
Other assets                        465,088     452,781     12,593      8,991    (11,964)b)   (12,392)b)     465,717     449,380
Minority interest assets                -           -          -          -       17,667 c)    17,907 c)      17,667      17,907
                                                                                         g)           g)
                                 ----------  ----------  ---------  ---------  ---------    ---------     ----------  ----------

Property, plant and equipment,
  at cost:
  Buildings and improvements        842,867     832,372    395,793    355,531   (118,947)d)  (118,947)d)   1,119,713   1,068,956
  Rental trucks                   1,081,395   1,037,653        -          -          -            -        1,081,395   1,037,653
  Other property, plant and         659,613     660,802    156,540    173,661        -            -          816,153     834,463
  equipment                      ----------  ----------  ---------  ---------  ---------    ---------     ----------  ----------
                                  2,583,875   2,530,827    552,333    529,192   (118,947)    (118,947)     3,017,261   2,941,072
                                 ----------  ----------  ---------  ---------  ---------    ---------     ----------  ----------
      Less accumulated
       depreciation               1,193,315   1,168,183     25,043     23,320     (5,329)d)    (4,400)d)   1,213,029   1,187,103
                                 ----------  ----------  ---------  ---------  ---------    ---------     ----------  ----------
      Total property, plant and
       equipment                  1,390,560   1,362,644    527,290    505,872   (113,618)    (114,547)     1,804,232   1,753,969
                                 ----------  ----------  ---------  ---------  ---------    ---------     ----------  ----------
      Total assets               $3,403,994  $3,384,064  $ 545,128  $ 520,108  $(375,251)   $(370,406)    $3,573,871  $3,533,766
                                 ==========  ==========  =========  =========  =========    =========     ==========  ==========

                                                     See accompanying notes.
</TABLE>


<PAGE> 20
<TABLE>
<CAPTION>
NOTE 11 - CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED), CONTINUED
--------------------------------------------------------------------------------------------------------------------------------

                                                             SAC HOLDING
                                      AMERCO  AND           CORPORATION AND
                                      CONSOLIDATED           CONSOLIDATED
                                      SUBSIDIARIES           SUBSIDIARIES          ADJUSTMENTS AND
                                        (AMERCO)            (SAC HOLDINGS)           ELIMINATIONS
                               ------------------------ --------------------  --------------------------
                                JUNE 30,     MARCH 31,   JUNE 30,   MARCH 31,    JUNE 30,    MARCH 31,    JUNE 30,     MARCH 31,
                                  2001         2001         2001      2001          2001        2001         2001         2001
                               -----------  ----------- ----------  --------  -------------  -----------  -----------  -----------
                                    (IN THOUSANDS)           (IN THOUSANDS)           (IN THOUSANDS)           (IN THOUSANDS)


    Liabilities and Stockholders' Equity
<S>                           <C>         <C>         <C>        <C>        <C>           <C>           <C>         <C>
AMERCO's notes and loans
 payable                      $1,143,271  $1,156,848  $     -    $     -    $     -       $     -       $1,143,271  $1,156,848
SAC Holdings' notes and loans
 payable,
  non-recourse to AMERCO             -           -      527,887    504,157   (252,863)b)   (247,048)b)     275,024     257,109
Policy benefits and losses,
claims and
  loss expenses payable          677,915     668,830        -          -          -             -          677,915     668,830
Liabilities from premium         523,772     522,207        -          -          -             -          523,772     522,207
deposits
Other liabilities                411,918     420,813     29,674     27,842    (54,785)b)    (55,213)b)     386,807     393,442
                                                                                      d)            d)
                              ----------  ----------  ---------  ---------  ---------     ---------     ----------  ----------
      Total liabilities        2,756,876   2,768,698    557,561    531,999   (307,648)     (302,261)     3,006,789   2,998,436
Minority interest                    -           -       10,563     10,416    (10,563)c)    (10,416)c)         -           -

Stockholders' equity:
  Serial preferred stock -
    Series A preferred stock         -           -          -          -          -             -              -           -
    Series B preferred stock         -           -          -          -          -             -              -           -
  Serial common stock -
    Series A common stock          1,441       1,441        -          -          -             -            1,441       1,441
  Common stock                     9,122       9,122        -          -          -             -            9,122       9,122
  Additional paid-in capital     312,128     312,128      3,312      3,312    (79,438)d)    (79,438)d)     236,002     236,002
                                                                                      g)            g)
  Accumulated other              (30,066)    (40,709)    (1,913)    (1,398)     1,913 g)      1,398 g)     (30,066)    (40,709)
   comprehensive income
  Retained earnings              776,937     755,174    (24,395)   (24,221)    24,395 g)     24,221 g)     776,937     755,174
  Cost of common shares in      (407,525)   (406,617)       -          -       (3,910)a)     (3,910)a)    (411,435)   (410,527)
   treasury, net
  Unearned ESOP shares           (14,919)    (15,173)       -          -          -             -          (14,919)    (15,173)
                              ----------   ---------  ---------  ---------  ---------     ---------     ----------  -----------
  Total stockholders' equity     647,118     615,366    (22,996)   (22,307)   (57,040)      (57,729)       567,082     535,330

Contingent liabilities and
  commitments
                              ----------   ---------  ---------  --------   ---------     ---------     ----------  ----------

 Total liabilities and stock
        stockholders' equity  $3,403,994  $3,384,064  $ 545,128  $ 520,108  $(375,251)    $(370,406)    $3,573,871  $3,533,766
                              ==========  ==========  ========== =========  =========     =========     ==========  ==========

                                                         See accompanying notes.
</TABLE>


<PAGE> 21
<TABLE>
<CAPTION>
NOTE 11 - CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS
QUARTERS ENDED JUNE 30 (UNAUDITED)
----------------------------------------------------------------------------------------------------------------------------------
                                                                   SAC HOLDING
                                              AMERCO  AND        CORPORATION AND
                                             CONSOLIDATED         CONSOLIDATED
                                             SUBSIDIARIES         SUBSIDIARIES       ADJUSTMENTS AND
                                               (AMERCO)          (SAC HOLDINGS)       ELIMINATIONS
                                         --------------------  ------------------  --------------------
                                           2001       2000       2001      2000      2001      2000           2001        2000
                                         --------------------  ------------------  --------------------  -------------------------
                                            (IN THOUSANDS)       (IN THOUSANDS)      (IN THOUSANDS)        (IN THOUSANDS, EXCEPT
                                                                                                         SHARE AND PER SHARE DATA)
<S>                                      <C>        <C>        <C>       <C>       <C>        <C>        <C>              <C>
Revenues:
  Rental revenue                         $334,543   $322,748   $25,437   $16,361   $(1,909)e) $(1,170)e) $     358,071    $337,939
  Net sales                                62,423     60,146     6,366     3,149       -          -             68,789      63,295
  Premiums                                100,330     54,987       -         -         -          -            100,330      54,987
  Net investment and interest income       22,586     21,681       -         -      (7,223)f)  (5,552)f)        15,363      16,129
                                         --------   --------   -------   -------   -------    ------     -------------    --------
      Total revenues                      519,882    459,562    31,803    19,510    (9,132)    (6,722)         542,553     472,350
                                         --------   --------   -------   -------   --------   -------    -------------    --------

Costs and expenses:
  Operating expenses                      248,967    231,775    15,142     9,223    (1,909)e)  (1,170)e)       262,200     239,828
  Cost of sales                            33,768     33,197     2,641     1,298       -          -             36,409      34,495
  Benefits and losses                      91,432     42,235       -         -         -          -             91,432      42,235
  Amortization of deferred policy
    acquisition costs                       9,794      7,869       -         -         -          -              9,794       7,869
  Lease expense                            46,342     40,434       -         -         -          -             46,342      40,434
  Depreciation, net                        30,250     22,810     1,982     1,116      (762)d)    (508)d)        31,470      23,418
                                         --------   --------   -------   -------   -------    -------    -------------    --------
      Total costs and expenses            460,553    378,320    19,765    11,637    (2,671)    (1,678)         477,647     388,279
                                         ---------  --------   -------   -------   -------    -------    -------------    --------
      Earnings from operations             59,329     81,242    12,038     7,873    (6,461)    (5,044)          64,906      84,071
                                         --------   --------   --------  -------   -------    -------    -------------    --------

  Interest expense                         21,120     22,810    12,200     9,795    (7,223)f)  (5,552)f)        26,097      27,053
                                         --------   --------   -------   -------   -------    -------    -------------    --------
      Pretax earnings (loss)               38,209     58,432      (162)   (1,922)      762        508           38,809      57,018
                                         --------   --------   -------   -------   -------    -------    -------------     -------

  Income tax expense                      (13,206)   (20,820)      (12)     (144)     (267)      (178)         (13,485)    (21,142)

Earnings (loss) from operations before
  minority interest                        25,003     37,612      (174)   (2,066)      495        330           25,324      35,876

                                                       See accompanying notes.
</TABLE>

<PAGE> 22
<TABLE>
<CAPTION>
NOTE 11 - CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS, CONTINUED
QUARTERS ENDED JUNE 30 (UNAUDITED)
----------------------------------------------------------------------------------------------------------------------------------
                                                                   SAC HOLDING
                                              AMERCO  AND        CORPORATION AND
                                             CONSOLIDATED         CONSOLIDATED
                                             SUBSIDIARIES         SUBSIDIARIES       ADJUSTMENTS AND
                                               (AMERCO)          (SAC HOLDINGS)       ELIMINATIONS
                                         --------------------  ------------------  --------------------
                                           2001       2000       2001      2000      2001      2000           2001        2000
                                         --------------------  ------------------  --------------------  -------------------------
                                            (IN THOUSANDS)       (IN THOUSANDS)      (IN THOUSANDS)        (IN THOUSANDS, EXCEPT
                                                                                                         SHARE AND PER SHARE DATA)
<S>                                      <C>        <C>        <C>       <C>       <C>        <C>        <C>              <C>
Minority interest                             -          -         -         -        (321)     1,736             (321)      1,736
                                         --------   --------   -------   -------   -------    -------    -------------    --------

     Net earnings (loss)                 $ 25,003   $ 37,612   $  (174)  $(2,066)  $   174    $ 2,066    $      25,003    $ 37,612
                                         ========   ========   =======   ========  ========   =======    =============    ========

Basic and diluted earnings per
   common share:                                                                                         $        1.02    $   1.58
                                                                                                         =============    ========

Basic and diluted average common
     shares outstanding                                                                                     21,280,361  21,718,988
                                                                                                         =============  ==========


                                                 See accompanying notes.
</TABLE>


<PAGE> 23
      AMERCO AND CONSOLIDATED SUBSIDIARIES AND SAC HOLDING CORPORATION AND
                            CONSOLIDATED SUBSIDIARIES

Note 11 - Notes to Consolidating Information

June 30, 2001 and 2000

a) To eliminate the investment of AMERCO stock held by SAC Holdings.
b) To eliminate notes payable and other liabilities payable to AMERCO from SAC
   Holdings.
c) To eliminate minority interest investment held by RepWest and Oxford.
d) To eliminate the gain on sale of assets and related deferred taxes from
   AMERCO to SAC Holdings.
e) To eliminate management fees received by AMERCO from SAC Holdings.
f) To eliminate interest income received by AMERCO from SAC Holdings.
g) To eliminate SAC equity.




<PAGE> 24
           ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS

FORWARD-LOOKING STATEMENTS
     This Quarterly Report on Form 10-Q/A contains forward-looking statements.
Additional written or oral forward-looking statements may be made by AMERCO or
the consolidated group from time to time in filings with the Securities and
Exchange Commission or otherwise.  Management believes such forward-looking
statements are within the meaning of the safe-harbor provisions.  Such
statements may include, but are not limited to, projections of revenues, income
or loss, estimates of capital expenditures, the anticipated results of legal
proceedings against the Company, plans for future operations, products or
services and financing needs or plans, as well as assumptions relating to the
foregoing.  The words "believe", "expect", "anticipate", "estimate", "project"
and similar expressions identify forward-looking statements, which speak only as
of the date the statement was made.  Forward-looking statements are inherently
subject to risks and uncertainties, some of which cannot be predicted or
quantified.  Future events and actual results could differ materially from those
set forth in, contemplated by or underlying the forward-looking statements.
Some of the important factors that could cause our actual results, performance
or financial condition to differ materially from our expectations are:
fluctuations in our costs to maintain and update our fleet and facilities;
changes in government regulations, particularly environmental regulations; our
credit ratings; changes in demand for our products; changes in the general
domestic economy; degree and nature of our competition; and other factors
described in this Quarterly Report on Form 10-Q/A or the other documents we file
with the Securities and Exchange Commission.  As a result of these factors
AMERCO's stock price may fluctuate dramatically.

GENERAL
     Information on industry segments is incorporated by reference from "Item 1.
Financial Statements - Notes 1, 3 and 9 of Notes to Condensed Consolidated
Financial Statements".  The notes discuss the principles of combination and
consolidation, summarized consolidated financial information and industry
segment and geographical area data, respectively.  In consolidation, all
intersegment premiums are eliminated and the benefits, losses and expenses are
retained by the insurance companies.






































<PAGE> 25
RESULTS OF OPERATIONS
QUARTER ENDED JUNE 30, 2001 VERSUS QUARTER ENDED JUNE 30, 2000

Moving and Storage Operations

                                                         Adjustments
                                                             and
                                  AMERCO   SAC Holdings  Eliminations    Total
                               ------------------------------------------------
                                               (in thousands)
Quarter ended
June 30, 2001
-------------
Revenues:
 Outside                      $   402,513      31,803       (9,132)     425,184
 Intersegment                         -           -            -            -
                               ------------------------------------------------
 Total revenues               $   402,513      31,803       (9,132)     425,184
Depreciation/amortization     $    29,951       1,982         (762)      31,171
Interest expense              $    21,120      12,200       (7,223)      26,097
Pretax earnings (loss)        $    36,501        (162)         762       37,101
Income tax expense            $   (12,612)        (12)        (267)     (12,891)
Identifiable assets           $ 1,465,077     545,128     (375,251)   1,634,954


                                                         Adjustments
                                                             and
                                  AMERCO   SAC Holdings  Eliminations    Total
                               ------------------------------------------------
                                              (in thousands)
Quarter ended
June 30, 2000
-------------
Revenues:
 Outside                      $   388,222      19,510       (6,722)     401,010
 Intersegment                         -           -            -            -
                               ------------------------------------------------
 Total revenues               $   388,222      19,510       (6,722)     401,010
Depreciation/amortization     $    24,306       1,116         (508)      24,914
Interest expense              $    22,810       9,795       (5,552)      27,053
Pretax earnings (loss)        $    48,926      (1,922)         508       47,512
Income tax expense            $   (17,512)       (144)        (178)     (17,834)
Identifiable assets           $ 1,420,411     437,434     (410,013)   1,447,832

AMERCO
     Revenues consist of rental revenues and net sales.  Total rental revenue
was $335.4 million and $322.3 million for the quarters ended June 30, 2001 and
2000, respectively.  Net revenues from the rental of moving related equipment
increased by $10.0 million.  This increase is primarily attributable to higher
truck rental revenues.  The growth in truck rental revenue primarily reflects
higher truck rental inventory.  Storage revenues increased $1.0 million due to
increases in rates and in the number of storage rooms rented.

     Net sales revenues were $62.4 million and $60.1 million for the quarters
ended June 30, 2001 and 2000, respectively.  Revenue growth resulted from a 3.9%
increase in the sale of moving support items and a 15.7% increase in the sale of
propane.

     Cost of sales was $33.8 million and $33.2 million for the quarters ended
June 30, 2001 and 2000, respectively.  A higher sales volume contributed to the
increase.

     Operating expenses before intercompany eliminations were $252.1 million and
$235.6 million for the quarters ended June 30, 2001 and 2000, respectively.
Increased expenditure levels for personnel and rental equipment maintenance, due
to an increase in truck rental transactions and in fleet size, were primarily
responsible.

     Lease expense was $42.1 million and $37.7 million for the quarters ended
June 30, 2001 and 2000, respectively.  This increase reflects additional leasing
activity over the past twelve months.

     Net depreciation expense was $27.0 million and $20.1 million for the
quarters ended June 30, 2001 and 2000, respectively.  The increase reflects an
increase in depreciation recognized on the rental truck fleet.

     Operating profit before tax and intercompany elimination was $48.8 million
and $61.4 million for the quarters ended June 30, 2001 and 2000, respectively.
The decrease reflects increases in operating expenses over increases in
revenues.


<PAGE> 26
SAC Holdings
     Net Rental revenue was $25.4 million and $16.4 million for the quarters
ended June 30, 2001 and 2000, respectively.  Increased facility capacity through
the acquisition of new locations and increased storage rates accounted for the
increase.  The occupancy of existing storage locations has remained stable.

     Net sales revenue was $6.4 million and $3.1 million for the quarters ended
June 30, 2001 and 2000, respectively.  The growth is related to the acquisition
of new locations.

     Operating expenses were $15.1 million and $9.2 million for the quarters
ended June 30, 2001 and 2000, respectively.  Personnel costs, liability
insurance, property taxes and utility expenses all increased proportionately in
relation to the increased revenues from the acquisition of new locations.

     Net depreciation expense was $2.0 million and $1.1 million for the quarter
ended June 30, 2001 and 2000, respectively.  The increase is attributed to
acquisition of new locations.

     Operating profit before interest and tax were $12.0 million and $7.9
million for the quarters ended June 30, 2001 and 2000, respectively.

AMERCO's Real Estate Operations
     Rental revenue before intercompany eliminations was $17.9 million and $18.2
million for the quarters ended June 30, 2001 and 2000, respectively.
Intercompany revenue was $17.3 million and $17.7 million for the quarters ended
June 30, 2001 and 2000, respectively.

     Net investment and interest income was $1.9 million and $2.1 million for
the quarters ended June 30, 2001 and 2000, respectively.  This decrease
correlates to a reduction in Real Estate's average note and mortgage receivables
balance outstanding.

     Lease expense was $4.1 million and $2.6 million for the quarters ended June
30, 2001 and 2000, respectively.  The increase reflects payments under a
synthetic lease facility being utilized to develop storage properties.  These
expenses are reimbursed by the Moving and Storage Operations through
intercompany rent.

     Net depreciation expense was $3.2 million and $2.6 million for the quarters
ended June 30, 2001 and 2000, respectively. The increase primarily reflects a
$0.5 million decrease in gains from the disposition of property.

     Operating profit before tax and intercompany elimination was $14.8 million
and $15.2 million for the quarters ended June 30, 2001 and 2000, respectively.
The decrease reflects increases in lease expenses.

Property and Casualty
     RepWest's premiums were $62.2 million and $30.4 million for the quarters
ended March 31, 2001 and 2000, respectively.  General agency premiums were
$29.6 million and $7.6 million for the quarters ended March 31, 2001 and 2000,
respectively.  The increase from 2000 to 2001 was the result of two agency
programs that grew significantly in the second half of 2000.  Assumed treaty
reinsurance premium was $15.7 million and $9.8 million for the quarters ended
March 31, 2001 and 2000, respectively.  Rental industry earnings were $8.5
million and $7.4 million for the quarters ended March 31, 2001 and 2000,
respectively.

     Net investment income was $8.4 million and $8.0 million for the quarters
ended March 31, 2001 and 2000, respectively.  The increase is attributed to
increased invested assets and increased gains.

     Benefits and losses incurred were $60.3 million from $24.6 million for the
quarters ended March 31, 2001 and 2000, respectively.  This increase is due to
agency programs in non standard auto and transportation that grew significantly
in the second half of 2000, as well as assumed treaty reinsurance, direct
multiple peril business and rental industry.

     The amortization of deferred acquisition costs (DAC) was $5.0 million and
$3.2 million for the quarters ended March 31, 2001 and 2000, respectively.  The
increase from 2000 to 2001 is mainly due to the premium growth and resulting
deferral of acquisition expenses in 2000 for the assumed treaty and general
agency programs.

     Operating expenses were $10.9 million and $8.3 million for the quarters
ended March 31, 2001 and 2000, respectively.  The increase is a result of
commissions on new agency business premium writings as well as assumed
reinsurance treaties and taxes resulting from increased premium writings.

<PAGE> 27
     Operating (loss)/profit before tax and intercompany elimination was $(5.6)
million and $2.3 million for the quarters ended March 31, 2001 and 2000,
respectively.  The decrease is the result of additional incurred losses and
operating expenses, offset by an increase in earned premiums.

Life Insurance
     Net premiums were $39.6 million from $25.5 million for the quarters ended
March 31, 2001 and 2000, respectively.  Oxford increased Medicare supplement
premiums by $14.6 million through direct writings and the acquisition of
Christian Fidelity Life Insurance Company (CFLIC).  Other business segments had
premium decreases totaling $0.5 million.

     Net investment income before intercompany eliminations increased $0.4
million to $6.2 million from $5.8 million for the quarters ended March 31, 2001
and 2000, respectively, due to a larger invested asset base.

     Benefits incurred were $31.2 million and $17.7 million for the quarters
ended March 31, 2001 and 2000, respectively.  This increase is primarily due to
a greater volume of Medicare supplement business in force after the acquisition
of CFLIC, which accounts for $13.0 million.  Credit insurance and health
benefits increased $1.4 million from 2000 as loss ratios were higher quarter
over quarter.  Life insurance and annuity benefits decreased $0.8 million for
the quarter.

     Amortization of DAC and the value of business acquired (VOBA) was $4.8
million and $4.7 million for the quarters ended March 31, 2001 and 2000,
respectively.

     Operating expenses were $7.2 million and $5.7 million for the quarters
ended March 31, 2001 and 2000, respectively.  Commissions have increased $0.6
million from 2000 primarily due to the increase in Medicare supplement premiums.
General and administrative expenses net of fees collected increased $1.0 million
from 2000 primarily due to the acquisition of CFLIC.

     Operating profit before tax and intercompany eliminations was $2.7 million
and $3.3 million for the quarters ended March 31, 2001 and 2000, respectively.
The decrease from 2000 is due primarily to loss experience in the health and
credit insurance segments.

Interest Expense

AMERCO
     Interest expense was $21.1 million and $22.8 million for the quarters ended
June 30, 2001 and 2000, respectively.  The decrease can be attributed to a
reduction in average cost of funds.

SAC Holdings
     Interest expense was $12.2 million and $9.8 million for the quarters ended
June 30, 2001 and 2000, respectively.  The increase is due to higher borrowings.

Consolidated Group
     As a result of the foregoing, pretax earnings were $38.8 million and $57.0
million for the quarters ended June 30, 2001 and 2000, respectively.  After
providing for income taxes, net earnings were $25.3 million and $35.9 million
for the quarters ended June 30, 2001 and 2000, respectively.  After the
elimination of SAC Holdings, the net earnings were $25.0 million and $37.6
million for the quarters ended June 30, 2001 and 2000, respectively.  The net
earnings of SAC Holdings are completely eliminated because AMERCO does not have
an equity interest in SAC Holdings.  The presentation of consolidated statements
is due to a revised interpretation of ETIF 90-15 by the AMERCO's independent
public accountants.  AMERCO agrees with this interpretation.

LIQUIDITY AND CAPITAL RESOURCES

AMERCO's Moving and Storage Operations
     To meet the needs of its customers, U-Haul must maintain a large inventory
of fixed asset rental items.  At June 30, 2001, net property, plant and
equipment represented approximately 63.8% of total assets from non-insurance
operations and approximately 40.9% of consolidated assets.  In the quarters
ended June 30, 2001 and 2000, capital expenditures were $46.5 million and $143.0
million, respectively.  These expenditures primarily reflect the expansion of
the rental truck fleet.

     Cash provided by operating activities was $71.0 million and $21.1 million
for the quarters ended June 30, 2001 and 2000, respectively.  The increase
resulted primarily from a decrease in notes and mortgage receivable partially
offset by decreases in the accounts payable and intercompany payable balances
along with decreased earnings.

<PAGE> 28
     At June 30, 2001, total outstanding notes and loans payable was $1,143.3
million as compared to $1,156.8 million at March 31, 2001.

AMERCO's Real Estate Operations
     Cash provided (used) by operating activities was $(20.8) million and $3.2
million for the quarters ended June 30, 2001 and 2000, respectively.  The
decrease mainly resulted from a decrease in the intercompany payable balance.

Property and Casualty
     Cash used by operating activities was $17.8 million and $5.8 million for
quarters ended March 31, 2001 and 2000, respectively.  This change resulted from
increased accounts receivable and decreased unearned premium, net income and
funds withheld from December 2000 to March 2001, offset by an increase in loss
and loss adjusting expense reserves and reinsurance losses payable from December
2000 to March 2001.

     RepWest's cash and cash equivalents and short-term investment portfolio
were $4.3 million and $1.2 million at March 31, 2001 and 2000, respectively.
The increase is a result of increased cash and cash equivalents on hand to fund
claim payments generated by new business.

     RepWest maintains a diversified securities investment portfolio, primarily
in bonds, at varying maturity levels with 88.0% of the fixed-income securities
consisting of investment grade securities.  The maturity distribution is
designed to provide sufficient liquidity to meet future cash needs.  Current
liquidity remains strong with current invested assets equal to 78.4% of total
liabilities.

     The liability for reported and unreported losses are based upon company
historical and industry averages.  Unpaid loss adjustment expenses are based on
historical ratios of loss adjustment expenses paid to losses paid.  Unpaid loss
and loss expenses are not discounted.

Life Insurance
     Oxford's primary sources of cash are premiums, receipts from interest-
sensitive products and investment income.  The primary uses of cash are
operating costs and benefit payments to policyholders.  Matching the investment
portfolio to the cash flow demands of the types of insurance being written is an
important consideration.  Benefit and claim statistics are continually monitored
to provide projections of future cash requirements.

     Cash provided (used) by operating activities was $(5.6) million and $1.5
million for the quarters ended March 31, 2001 and 2000, respectively.  The
decrease in cash flows from operating activities in 2001 relates to paid loss
experience.  Cash flows provided by financing activities were $1.8 million and
$3.1 million for the quarters ended March 31, 2001 and 2000, respectively.  Cash
flows from deferred annuity sales increase investment contract deposits, which
are a component of financing activities.  The decrease in 2001 from 2000 is due
to a higher ratio of annuity withdrawals versus deposits on our CFLIC annuity
contracts.

     In addition to cash flows from operating and financing activities, a
substantial amount of liquid funds is available through Oxford's short-term
portfolio.  At March 31, 2001 and 2000, short-term investments were $67.0
million and $65.1 million, respectively.  Management believes that the overall
sources of liquidity will continue to meet foreseeable cash needs.

SAC Holdings
     Cash used by operating activities was $1.3 million and $1.2 million for the
quarter ended June 30, 2001 and 2000, respectively.

     At June 30, 2001, total outstanding notes and mortgages payable were $527.9
million compared to $504.2 million at March 31, 2001.

     SAC Holdings intends to meet its current debt obligations through cash
flows generated from its operating activities.

Consolidated group
     At June 30, 2001, total outstanding notes and mortgages payable for AMERCO
and consolidated subsidiaries was $1,143.3 million compared to $1,156.8 million
at March 31, 2001.  At June 30, 2001, total outstanding notes and mortgages
payable for SAC Holdings and consolidated subsidiaries was $527.9 million
compared to $504.2 million at March 31, 2001.  SAC Holdings' loan agreements
have no guarantees, or triggers that could create a guarantee, from AMERCO.  SAC
Holdings' creditors have no recourse to AMERCO.  AMERCO is not liable for the
debts of SAC Holdings.  Further, there are no cross default provisions on
indebtedness between AMERCO and SAC Holdings.

<PAGE> 29
     AMERCO has no (and has never had any) ownership interest in SAC Holidngs or
its subsidiaries.  The presentation of the consolidated statements has no
bearing on the credit agreements or the operations of AMERCO and SAC Holdings.
The accounts of AMERCO and SAC Holdings are presented as consolidated due to a
revised interpretation of EITF 90-15 by the Company's independent public
accountants.

     During each of the fiscal years ended March 31, 2002, 2003 and 2004, AMERCO
estimates gross capital expenditures will average approximately $200 million
primarily reflecting rental fleet rotation.  This level of capital expenditures,
combined with a potential range of $150 - $300 million in annual long-term debt
maturities during this same period, are expected to create annual average
funding needs of approximately $350 - $500 million.  The Company plans to meet
these needs through cash flows, asset sales and various current and future
sources of credit (See Credit Agreements discussion below).  AMERCO has
historically enjoyed a substantial and predictable level of cashflow (EBITDAR)
from its non-insurance subsidiaries.  These cashflows are dependent on revenues
and expenses that can be impacted by economic trends.  In the past, the Company
has not been as affected by these economic trends as other businesses.  Cashflow
(defined as EBITDAR) is anticipated to range approximately from $400 million to
$425 million annually.  The sale of assets is less predictable and substantially
lower than the cashflows.  The sale of assets is dependant upon economic
conditions, the amount and nature of sale and leaseback transactions and
AMERCO's fleet rotation program.  In many cases, a decline in asset sales is
accompanied by a decrease in capital expenditures.

     The Company intends to meet these needs through cash flows, existing lines
of credit, additional borrowings and sale of assets.  We may be unable to secure
such additional
borrowings on satisfactory terms or in a timely manner.  Depending on the
results of our operations, and general and economic competitive conditions, many
of which we cannot control, we may take certain actions, including delaying or
reducing capital expenditures.

     From time to time, Real Estate sells storage properties to SAC Holdings.
These sales have in the past provided significant cash flows to the Company.
The ability of the Company to engage in similar transactions in the future is
dependent to a large degree on the ability of SAC Holdings to obtain third party
financing for its acquisition of the properties from Real Estate and in general,
its willingness to engage in such transactions.

Credit Agreements
     AMERCO's operations are funded by various credit and financing
arrangements, including unsecured long-term borrowings, unsecured medium-term
notes, revolving lines of credit with banks and operating leases.  The operating
leases are primarily used to finance the Company's fleet of trucks and trailers.
As of June 30, 2001, AMERCO had $1,143.3 million in total notes and loans
payable outstanding and total unutilized lines of credit of approximately $96.4
million.  In addition to the economic pressures, there has been a reduction in
the number of leasing companies and banks, which has had a negative impact on
the financial markets.  This has led to less availability and higher prices.
Management of AMERCO believes there are enough leasing companies and banks to
meet the Company's financing needs.

     Certain of AMERCO's credit agreements contain restrictive financial and
other covenants, including, among others, covenants with respect to incurring
additional indebtedness, making third party guarantees, entering into contingent
obligations, maintaining certain financial ratios and placing certain additional
liens on its properties, assets and restricting the issuance of certain types of
preferred stock.  At June 30, 2001, AMERCO was in compliance with these
covenants.  AMERCO's various credit and financing arrangements are affected by
its credit ratings such that were AMERCO to experience a credit downgrade, the
interest rates that it is charged might be increased, which would result in an
increase in the Company's interest expense and hinder its ability to obtain
additional financing.

     SAC Holdings' operations are funded by various mortgage loans and unsecured
notes, with interest rates ranging from 8.0% to 13.0%.  SAC does not utilize
revolving lines of credit or leasing facilities to finance its operations or
acquisitions.  Certain of SAC's agreements contain restrictive covenants
including coverage ratios and restrictions on incurring additional subsidiary
indebtedness.  At June 30, 2001, SAC Holdings was in compliance with all of
these covenants.

     Reference is made to Note 5 of Notes to Consolidated Financial Statements
in AMERCO's Annual Report on Form 10-K for the fiscal year ended March 31, 2001
for additional information about AMERCO's credit agreements.





<PAGE> 30
CRITICAL ACCOUNTING POLICIES

PROPERTY, PLANT AND EQUIPMENT
     Property, plant and equipment are carried at cost and are depreciated on
the straight-line and accelerated methods over the estimated useful lives of the
assets.  Building and non-rental equipment have estimated lives ranging from
three to fifty-five years, while rental equipment have estimated lives ranging
from one to twenty years.  Maintenance is charged to operating expenses as
incurred, while renewals and betterments are capitalized.  Major overhaul costs
are amortized over the estimated period benefited.  Gains and losses on
dispositions are netted against depreciation expense when realized.  Interest
costs incurred as part of the initial construction of assets are capitalized.
During fiscal year 2002, based on an in-depth market analysis, U-Haul increased
the estimated salvage value of certain rental truck.  The effect of the changes
increased net earnings by $678,021 ($0.03 per share) for the quarter ended June
30, 2001.  The adjustment reflects management's best estimate, based on
information available, of the estimated salvage value of these rental trucks.

     AMERCO reviews property, plant and equipment for impairment whenever events
or changes in circumstances indicate that the carrying amount of an asset may
not be fully recoverable through expected undiscounted future operating cash
flows.

     The carrying value of AMERCO's real estate that is no longer necessary for
use in its current operations, and available for sale/lease, at March 31, 2001
and 2000, was approximately $27,691,000 and $27,732,000, respectively.  Such
properties available for sale are carried at cost, less accumulated
depreciation, which is less than fair market value.

POLICY BENEFITS AND LOSSES, CLAIMS AND LOSS EXPENSES PAYABLE
     Liabilities for policy benefits payable on traditional life and certain
annuity policies are established in amounts adequate to meet estimated future
obligations on policies in force.  These liabilities are computed using
mortality and withdrawal assumptions which are based upon recognized actuarial
tables and contain margins for adverse deviation.

     The liability for annuity contracts, which are accounted for as investment
contract deposits, consists of contract account balances that accrue to the
benefit of the policyholders, excluding surrender charges.  Carrying value of
investment contract deposits were $522,207,000 and $461,673,000 at December 31,
2000 and 1999, respectively.

     Liabilities for health and disability and other policy claims and benefits
payable  represent  estimates of payments to be made on  insurance  claims  for
reported  losses and estimates of losses incurred but not yet reported.   These
estimates are based on past claims experience and consider current claim trends
as well as social and economic conditions.

     RepWest's liability for reported and unreported losses is based on
RepWest's historical and industry averages.  The liability for unpaid loss
adjustment expenses is based on historical ratios of loss adjustment expenses
paid to losses paid.  Amounts recoverable from reinsurers on unpaid losses are
estimated in a manner consistent with the claim liability associated with the
reinsured policy.  Adjustments to the liability for unpaid losses and loss
expenses as well as amounts recoverable from reinsurers on unpaid losses are
charged or credited to expense in periods in which they are made.

LEASE EXPENSE

     AMERCO uses certain equipment and occupies certain facilities under
operating lease commitments.  The majority of the equipment leases are
"sale and leaseback transactions".   Certain leases contain renewal and fair
market value purchase options.  The leases contain various restrictions similar
to the Company's notes payable and loan agreements.  The treatment of these
leases is governed by various accounting pronouncements that include FAS 13,
FAS 66 and FAS 98.  Any changes in the treatment of operating leases could have
a material impact on the financial statements AMERCO.  At March 31, 2001 the
total lease commitments were approximately $691.7 million.


<PAGE> 31
       ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     Reference is made to Part II, Item 7A, Quantitative and Qualitative
Disclosure About Market Risk, in AMERCO's Annual Report on Form 10-K for the
fiscal year ended March 31, 2001.
<PAGE> 32
                           PART II.  OTHER INFORMATION


                           ITEM 1.  LEGAL PROCEEDINGS

     In the normal course of business, AMERCO is a defendant in a number of
suits and claims.  AMERCO is also a party to several administrative proceedings
arising from state and local provisions that regulate the removal and/or cleanup
of underground fuel storage tanks.  It is the opinion of management that none of
the suits, claims or proceedings involving AMERCO, individually or in the
aggregate, are expected to result in a material loss.

<PAGE> 33
                        ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits

     Exhibit No.              Description
     -----------              -----------

          3.1     Restated Articles of Incorporation (1)
          3.2     Restated By-Laws of AMERCO as of August 27, 1997 (2)
         10.1     Management Agreement between Eighteen SAC Self Storage
                  Corporation and subsidiaries of AMERCO(1)
         10.2     Management Agreement between Twenty SAC Self Storage
                  Corporation and subsidiaries of AMERCO(1)
         10.3     Management Agreement between Twenty-One SAC Self Storage
                  Corporation and subsidiaries of AMERCO(1)
         10.4     Management Agreement between Twenty-Two SAC Self Storage
                  Corporation and subsidiaries of AMERCO(1)
         10.5     Management Agreement between Twenty-Three SAC Self Storage
                  Corporation and subsidiaries of AMERCO(1)
         10.6     Promissory note between SAC Holding Corporation and a
                  subsidiary of AMERCO(3)
         10.7     Promissory note between SAC Holding Corporation and a
                  subsidiary of AMERCO(3)
         10.8     Promissory note between SAC Holding Corporation and Oxford
                  Life Insurance Company(3)
         10.9     Promissory note between SAC Holding Corporation and a
                  subsidiary of AMERCO(3)
         10.10    Promissory note between SAC Holding Corporation and a
                  subsidiary of AMERCO(3)
         10.11    Promissory note between SAC Holding Corporation and a
                  subsidiary of AMERCO(3)
         10.12    Promissory note between SAC Holding Corporation and a
                  subsidiary of AMERCO(3)
         10.13    Promissory note between SAC Holding Corporation and a
                  subsidiary of AMERCO(3)
         10.14    Management Agreement between Securespace Limited Partnership
                  and a subsidiary of AMERCO(3)
         10.15    Purchase and sale agreement between Eighteen SAC Self-Storage
                  Corporation subsidiaries of AMERCO(3)
         10.16    Purchase and sale agreement between Twenty SAC Self-Storage
                  Corporation, Twenty-One SAC Self-Storage Corporation,
                  Twenty-Two SAC Self-Storage Corporation, Twenty-Three
                  SAC Self-Storage Corporation and subsidiaries of AMERCO(3)


(b) Reports on Form 8-K.

                        No report on Form 8-K was filed during the quarter ended
                        June 30, 2001.

_________________

(1)  Incorporated by reference to AMERCO's Quarterly Report on Form 10-Q for
     the quarter ended December 31, 2001, file no. 1-11255.
(2)  Incorporated by reference to AMERCO's Quarterly Report on Form 10-Q
     for the quarter ended December 31, 1997, file no. 1-11255.
(3)  Incorporated by reference to AMERCO's Quarterly Report on Form 10-Q/A for
     the quarter ended December 31, 2001, file no. 1-11255.

<PAGE> 34
SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                  AMERCO
                                  ____________________________________
                                           (Registrant)


Dated: May 08, 2002                      By: /S/ GARY B. HORTON
                                  ____________________________________
                                       Gary B. Horton, Treasurer
                                     (Principal Financial Officer)