----

----

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**Form      10-Q**

**QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934**

**o**
**       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE      ACT      OF 1934**

|   |   | **COACHMEN                INDUSTRIES, INC.**                            |   |   |
|--------|--------|-------------------------------------------------------------------------|--------|--------|
|   |   | *(Exact                name of registrant as specified in its charter)* |   |   |

|   | **Indiana**                                               |   | **35-1101097**                                     |   |
|--------|-----------------------------------------------------------|--------|----------------------------------------------------|--------|
|   | *(State                of incorporation or organization*) |   | *(IRS                Employer Identification No.)* |   |

|   | **2831                Dexter Drive, Elkhart, Indiana**    |   | **46514**                   |   |
|--------|-----------------------------------------------------------|--------|-----------------------------|--------|
|   | *(Address                of principal executive offices)* |   | *(Zip                Code)* |   |

|   | Registrant's                telephone number, including area code |   | **(574)                262-0123** |   |
|--------|-------------------------------------------------------------------|--------|-----------------------------------|--------|

| Large                accelerated filer o |   | Accelerated                filer x |   | Non-accelerated                filer o |
|-----------------------------------------------|--------|-----------------------------------------|--------|---------------------------------------------|

----

----

|  **FORM                10-Q**                                                                                                  |
|-------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                |   |
|                                                                                                                                |   |
| **INDEX**                                                                                                                           |
|                                                                                                                                |   |
| **Part                I. Financial Information**                                                                                    | **Page** |
|                                                                                                                                |   |
| Financial                Statements:                                                                                                |   |
| Consolidated                Balance Sheets at September 30, 2006 and                December 31, 2005                               | 3 |
|                                                                                                                                |   |
| Consolidated                Statements of Operations for the three and                nine months ended September 30, 2006 and 2005 | 4 |
|                                                                                                                                |   |
| Consolidated                Statements of Cash Flows for the nine                months ended September 30, 2006 and 2005           | 5 |
|                                                                                                                                |   |
| Notes                to Consolidated Financial                Statements                                                            | 6-16 |
|                                                                                                                                |   |
| Management’s                Discussion and Analysis of Financial Condition                and Results of Operations           | 17-23 |
|                                                                                                                                |   |
| Quantitative                and Qualitative Disclosures About Market                Risk                                            | 24 |
|                                                                                                                                |   |
| Controls                and Procedures                                                                                              | 24 |
|                                                                                                                                |   |
| **Part                II. Other Information**                                                                                       |   |
|                                                                                                                                |   |
| Item                6. Exhibits                                                                                                     | 25 |
|                                                                                                                                |   |
| Signatures                                                                                                                          | 26 |
|                                                                                                                                |   |
| Index                to Exhibits                                                                                                    | 27 |

----

Index

 **Coachmen      Industries, Inc.**

**Consolidated      Balance Sheets**

|                                                                                                                                                          |   | September                30, |    | December                31, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|---------|-----------------------------|--------|
|                                                                                                                                                          |   | 2006                         |    | 2005                        |   |
| **Assets**                                                                                                                                                    |   |                         |    |                   |   |
| CURRENT                ASSETS                                                                                                                                 |   |                         |    |                        |   |
| Cash                and cash equivalents                                                                                                                      |   | $                            | 11,728  |                        | $      |  2,780 |   |
| Trade                receivables, less allowance for doubtful receivables 2006 - $1,283                and                2005 - $1,240                       |   |                         | 20,653  |                        |   | 47,174 |   |
| Other                receivables                                                                                                                              |   |                         | 1,806   |                        |   | 1,969 |   |
| Refundable                income taxes                                                                                                                        |   |                         | 12,506  |                        |   | 10,284 |   |
| Inventories                                                                                                                                                   |   |                         | 103,611 |                        |   | 121,304 |   |
| Prepaid                expenses and other                                                                                                                     |   |                         | 5,319   |                        |   | 3,992 |   |
| Deferred                income taxes                                                                                                                          |   |                         | 11,146  |                        |   | 11,421 |   |
| Assets                held for sale                                                                                                                           |   |                         | 2,375   |                        |   | 291 |   |
| Total                current assets                                                                                                                           |   |                         | 169,144 |                        |   | 199,215 |   |
| Property,                plant and equipment**,**                net                                                                                          |   |                         | 58,348  |                        |   | 67,581 |   |
| Notes                receivable                                                                                                                               |   |                         | 7,197   |                        |   | 2,493 |   |
| Goodwill                                                                                                                                                      |   |                         | 16,865  |                        |   | 17,383 |   |
| Cash                value of life insurance, net of loans                                                                                                     |   |                         | 30,651  |                        |   | 28,880 |   |
| Deferred                income taxes                                                                                                                          |   |                         | 2,913   |                        |   | 4,279 |   |
| Other                                                                                                                                                         |   |                         | 2,183   |                        |   | 2,985 |   |
| TOTAL                ASSETS                                                                                                                                   |   | $                            | 287,301 |                        | $      | 322,816 |   |
|                                                                                                                                                          |   |                         |    |                        |   |   |   |
| **Liabilities                and Shareholders' Equity**                                                                                                       |   |                         |    |                        |   |   |   |
| CURRENT                LIABILITIES                                                                                                                            |   |                         |    |                        |   |   |   |
| Short-term                borrowings                                                                                                                          |   | $                            | 10,814  |                        | $      | 12,276 |   |
| Accounts                payable, trade                                                                                                                        |   |                         | 26,116  |                        |   | 31,658 |   |
| Accrued                income taxes                                                                                                                           |   |                         | -       |                        |   | 533 |   |
| Accrued                expenses and other liabilities                                                                                                         |   |                         | 39,294  |                        |   | 54,856 |   |
| Floorplan                notes payable                                                                                                                        |   |                         | 4,273   |                        |   | 4,361 |   |
| Current                maturities of long-term debt                                                                                                           |   |                         | 1,077   |                        |   | 2,223 |   |
| Total                current liabilities                                                                                                                      |   |                         | 81,574  |                        |   | 105,907 |   |
| Long-term                debt                                                                                                                                 |   |                         | 5,744   |                        |   | 12,913 |   |
| Postretirement                deferred compensation benefits                                                                                                  |   |                         | 8,427   |                        |   | 10,182 |   |
| Other                                                                                                                                                         |   |                         | -       |                        |   | 11 |   |
| Total                liabilities                                                                                                                              |   |                         | 95,745  |                        |   | 129,013 |   |
|                                                                                                                                                          |   |                         |    |                        |   |   |   |
| COMMITMENTS                AND CONTINGENCIES** **(see                Note 10)                                                                            |   |                         |    |                        |   |   |   |
|                                                                                                                                                          |   |                         |    |                        |   |   |   |
| SHAREHOLDERS'                EQUITY                                                                                                                           |   |                         |    |                        |   |   |   |
| Common                shares, without par value: authorized 60,000 shares; issued 2006                - 21,151                shares and 2005 - 21,134 shares |   |                         | 92,331  |                        |   | 92,164 |   |
| Additional                paid-in capital                                                                                                                     |   |                         | 7,313   |                        |   | 6,465 |   |
| Unearned                compensation                                                                                                                          |   |                         | -       |                        |   | (142 | ) |
| Accumulated                other comprehensive loss                                                                                                           |   |                         | (10)    |                        |   | (6 | ) |
| Retained                earnings                                                                                                                              |   |                         | 151,598 |                        |   | 154,246 |   |
| Treasury                shares, at cost, 2006 - 5,495 shares and 2005 - 5,375                shares                                                           |   |                         | (59,676 | )                           |   | (58,924 | ) |
| Total                shareholders' equity                                                                                                                     |   |                         | 191,556 |                        |   | 193,803 |   |
|                                                                                                                                                          |   |                         |    |                        |   |   |   |
| TOTAL                LIABILITIES AND SHAREHOLDERS' EQUITY                                                                                                     |   | $                            | 287,301 |                        | $      | 322,816 |   |

*See      Notes to Consolidated Financial      Statements.*

----

Index

**Coachmen      Industries, Inc. and      Subsidiaries**

**Consolidated      Statements of Operations**

|                                                                                                                                                                         | Three                Months Ended September 30, | Nine                Months Ended September 30, |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------|------------------------------------------------|
|                                                                                                                                                                         |                                            | 2006                                 |   | 2005   |   | 2006   |   | 2005   |   |
|                                                                                                                                                                         |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Net                sales                                                                                                                                                |                                            | $                                              | 130,715 |   | $ | 180,168 |   | $ | 448,590 |   | $ | 562,448 |   |
| Cost                of sales                                                                                                                                            |                                            |                                           | 117,650 |   |   | 166,453 |   |   | 404,896 |   |   | 509,826 |   |
| Gross                profit                                                                                                                                                  |                                            |                                           |  13,065 |   |   |  13,715 |   |   |  43,694 |   |   |  52,622 |   |
| Operating                expenses:                                                                                                                                      |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Delivery                                                                                                                                                                     |                                            |                                           | 7,084 |   |   |  8,683 |   |   |  23,230 |   |   |  25,262 |   |
| Selling                                                                                                                                                                      |                                            |                                           | 6,520 |   |   |  6,692 |   |   |  16,946 |   |   | 21,804 |   |
| General                and administrative                                                                                                                                    |                                            |                                           |  6,226 |   |   |  9,814 |   |   | 14,403 |   |   |  22,591 |   |
| (Gain)                loss on sale of assets, net                                                                                                                            |                                            |                                           | (291 | )  |   | 820 |   |   | (6,340 | )  |   | 780 |   |
|                                                                                                                                                                         |                                            |                                           |  19,539 |   |   |  26,009 |   |   | 48,239 |   |   |  70,437 |   |
| Operating                loss                                                                                                                                                |                                            |                                           | (6,474 | )  |   |  (12,294 | )  |   | (4,545 | )  |   |  (17,815 | )  |
| Nonoperating                (income) expense:                                                                                                                           |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Interest                expense                                                                                                                                              |                                            |                                           |  916 |   |   | 794 |   |   | 2,616 |   |   |  2,377 |   |
| Investment                income                                                                                                                                             |                                            |                                           | (421 | )  |   |  (354 | )  |   | (1,165 | )  |   |  (1,612 | )  |
| Other                income, net                                                                                                                                             |                                            |                                           | (678 | )  |   |  (93 | )  |   | (897 | )  |   |  (325 | )  |
|                                                                                                                                                                         |                                            |                                           |  (183 | )  |   |  347 |   |   |  554 |   |   | 440 |   |
| Loss                from continuing operations before income taxes                                                                                                           |                                            |                                           | (6,291 | )  |   |  (12,641 | )  |   | (5,099 | )  |   |  (18,255 | )  |
| Income                tax benefit                                                                                                                                       |                                            |                                           | (2,937 | )  |   |  (6,466 | )  |   |  (3,249 | )  |   |  (9,466 | )  |
| Net                loss from continuing operations                                                                                                                      |                                            |                                           |  (3,354 | )  |   |  (6,175 | )  |   | (1,850 | )  |   | (8,789 | )  |
|                                                                                                                                                                         |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Discontinued                operations                                                                                                                                  |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Loss                from operations of discontinued entities (net of tax benefits of                $(100), $(2,203),                $(423) and $(2,372), respectively) |                                            |                                           | (162 | )  |   | (3,171 |   )  |   |  (657 | )  |   |  (3,413 | )  |
| Gain                on sale of assets of discontinued entities (net of taxes of $2,140                in                2006)                                                |                                            |                                           |  - |   |   |  - |   |   | 2,205 |   |   |  - |   |
| Income                (loss) from discontinued operations                                                                                                               |                                            |                                           | (162 | )  |   |  (3,171 | )  |   | 1,548 |   |   |  (3,413 | )  |
| Net                loss                                                                                                                                                      |                                            | $                                              |  (3,516 | )  | $ | (9,346 | )  | $ | (302 | )   | $ |  (12,202 | )  |
|                                                                                                                                                                         |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Earnings                (loss) per share - Basic                                                                                                                        |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Continuing                operations                                                                                                                                         |                                            | $                                              | (.21 | ) | $ | (.40 | )  | $ |  (.12 | )  | $ |  (.56 | )  |
| Discontinued                operations                                                                                                                                       |                                            |                                           | (.01 | )  |   |  (.20 | )  |   |  .10 |   |   |  (.22 | )  |
| Net                loss per share                                                                                                                                            |                                            |                                           | (.22 | )  |   |  (.60 | )  |   | (.02 | )  |   |  (.78 | )  |
| Earnings                (loss) per share - Diluted                                                                                                                      |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Continuing                operations                                                                                                                                         |                                            |                                           |  (.21 | )  |   |  (.40 | ) |   |  (.12 | )  |   |  (.56 | )  |
| Discontinued                operations                                                                                                                                       |                                            |                                           |  (.01 | )  |   |  (.20 | )  |   |  .10 |   |   |  (.22 | )  |
| Net                loss per share                                                                                                                                            |                                            | $                                              |  (.22 | ) | $ | (.60 | )  | $ |  (.02 | )  | $ |  (.78 | )  |
|                                                                                                                                                                         |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Number                of common shares used in the computation of loss per                share:                                                                        |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                                                                                                                        |                                            |                                           |  15,634 |   |   |  15,556 |   |   | 15,664 |   |   |  15,545 |   |
| Diluted                                                                                                                                                                      |                                            |                                           |  15,634 |   |   |  15,556 |   |   |  15,664 |   |   |  15,545 |   |
|                                                                                                                                                                         |                                            |                                           |   |   |   |   |   |   |   |   |   |   |   |
| Cash                dividends declared per common share                                                                                                                 |                                            | $                                              |  .03 |   | $ |  .06 |   | $ |  .15 |   | $ |  .18 |   |

*See      Notes to Consolidated Financial Statements.*

----

Index

**Coachmen      Industries, Inc. and      Subsidiaries**

**Consolidated      Statements of Cash Flows **

|                                                                                                                                     |   | Nine                Months Ended September 30, |
|------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------|
|                                                                                                                                     |   | 2006                                           |   | 2005 |   |
| CASH                FLOWS FROM OPERATING ACTIVITIES:                                                                                     |   |                                           |   |   |   |   |   |
| Net                loss                                                                                                                  |   | $                                              | (302 | ) | $ | (12,202 | )  |
| Adjustments                to reconcile net loss to net cash provided by operating                activities:                            |   |                                           |   |   |   |   |   |
| Depreciation                                                                                                                             |   |                                           | 4,869 |   |   | 6,638 |   |
| Provision                for doubtful receivables, net of recoveries                                                                     |   |                                           | 444 |   |   | 574 |   |
| Provision                for write-down of property to net realizable value                                                              |   |                                           | - |   |   | 6,986 |   |
| Net                realized and unrealized gains on marketable securities and derivatives                                                |   |                                           | (4 | )  |   | (325 | )  |
| Gain                on sale of properties and other assets, net                                                                          |   |                                           | (10,830 | ) |   | (304 | ) |
| Increase                in cash surrender value of life insurance policies                                                               |   |                                           | (437 | ) |   | (923 | ) |
| Deferred                income tax provision (benefit)                                                                                   |   |                                           | 1,641 |   |   | (6,395 | ) |
| Other                                                                                                                                    |   |                                           | 234 |   |   | (871 | )  |
| Changes                in certain assets and liabilities, net of effects of acquisitions                and                dispositions: |   |                                           |   |   |   |   |   |
| Trade                receivables                                                                                                         |   |                                           | 21,489 |   |   | 16,659 |   |
| Inventories                                                                                                                              |   |                                           | 5,527 |   |   | 6,350 |   |
| Prepaid                expenses and other                                                                                                |   |                                           | (1,944 | )  |   | (199 | )  |
| Accounts                payable, trade                                                                                                   |   |                                           | (4,502 | )  |   | 14,720 |   |
| Income                taxes - accrued and refundable                                                                                     |   |                                           | (2,755 | )  |   | (8,981 | )  |
| Accrued                expenses and other liabilities                                                                                    |   |                                           | (11,735 | ) |   | 9,600 |   |
| Net                cash provided by operating activities                                                                                 |   |                                           | 1,695 |   |   | 31,327 |   |
|                                                                                                                                     |   |                                           |   |   |   |   |   |
| CASH                FLOWS FROM INVESTING ACTIVITIES:                                                                                     |   |                                           |   |   |   |   |   |
| Proceeds                from sales of marketable securities                                                                              |   |                                           | - |   |   | 1,933 |   |
| Proceeds                from sale of properties and other assets                                                                         |   |                                           | 24,680 |   |   | 395 |   |
| Investments                in marketable securities                                                                                      |   |                                           | (1,334 | ) |   | (2,181 | ) |
| Purchases                of property and equipment                                                                                       |   |                                           | (4,139 | ) |   | (5,046 | ) |
| Other                                                                                                                                    |   |                                           | (276 | ) |   | 140 |   |
| Net                cash provided by (used in) investing activities                                                                       |   |                                           | 18,931 |   |   | (4,759 | ) |
|                                                                                                                                     |   |                                           |   |   |   |   |   |
| CASH                FLOWS FROM FINANCING ACTIVITIES:                                                                                     |   |                                           |   |   |   |   |   |
| Proceeds                from short-term borrowings                                                                                       |   |                                           | 7,070 |   |   | 232 |   |
| Payments                of short-term borrowings                                                                                         |   |                                           | (8,620 | ) |   | (23,042 | ) |
| Proceeds                from long-term debt                                                                                              |   |                                           | 255 |   |   | 241 |   |
| Payments                of long-term debt                                                                                                |   |                                           | (8,570 | ) |   | (1,279 | ) |
| Issuance                of common shares under stock incentive plans                                                                     |   |                                           | 192 |   |   | 283 |   |
| Cash                dividends paid                                                                                                       |   |                                           | (1,876 | ) |   | (1,887 | ) |
| Purchases                of common shares for treasury                                                                                   |   |                                           |  (129 | )  |   |  - |   |
| Other                                                                                                                                    |   |                                           | - |   |   | 67 |   |
| Net                cash used in financing activities                                                                                |   |                                           | (11,678 | ) |   | (25,385 | )  |
| Increase                in cash and cash equivalents                                                                                     |   |                                           | 8,948 |   |   | 1,183 |   |
| CASH                AND CASH EQUIVALENTS:                                                                                                |   |                                           |   |   |   |   |   |
| Beginning                of period                                                                                                       |   |                                           | 2,780 |   |   | 14,992 |   |
| End                of period                                                                                                             |   | $                                              | 11,728 |   | $ | 16,175 |   |
|                                                                                                                                     |   |                                           |   |   |   |   |   |
| Supplemental                disclosures of cash flow information:                                                                   |   |                                           |   |   |   |   |   |
| Operating                cash received during the period related to insurance                settlement                                  |   | $                                              |  2,875 |   | $ | 2,213 |   |

*See      Notes to Consolidated Financial Statements.*

----

Index

**Coachmen      Industries, Inc. and Subsidiaries**

**Notes      to Consolidated Financial Statements**

**1.         BASIS OF PRESENTATION.**

**Statement      of Operations Classification **

**Reclassifications      **

**2.         SEGMENT INFORMATION.**

Note 9

|                                 |   | Three                Months Ended September 30, | Nine                Months Ended September 30, |
|--------------------------------------|--------|-------------------------------------------------|------------------------------------------------|
|                                 |   | 2006                                            |                                           | 2005 |   | 2006 |   | 2005 |   |
| Net                sales             |   |                                            |                                           |   |   |   |   |   |   |   |   |   |   |
| Recreational                vehicles |   | $                                               | 90,490                                         |   | $ | 129,875 |   | $ | 321,454 |   | $ | 425,007 |   |
| Housing                and building  |   |                                            | 40,225                                         |   |   | 50,293 |   |   | 127,136 |   |   | 137,441 |   |
|                                 |   |                                            |                                           |   |   |   |   |   |   |   |   |   |   |
| Consolidated                total    |   | $                                               | 130,715                                        |   | $ | 180,168 |   | $ | 448,590 |   | $ | 562,448 |   |

----

Index

|                                                            |   |  Three                Months Ended September 30, | Nine                Months Ended September 30, |    |
|-----------------------------------------------------------------|--------|-------------------------------------------------------|------------------------------------------------|---------|
|                                                            |   | 2006                                                  |                                           | 2005    |   | 2006 |   | 2005 |   |
| Gross                profit                                     |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Recreational                vehicles                            |   | $                                                     | 3,708                                          |    | $ | 1,410 |   | $ | 13,770 |   | $ | 20,114 |   |
| Housing                and building                             |   |                                                  | 9,357                                          |    |   | 12,305 |   |   | 29,924 |   |   | 32,508 |   |
|                                                            |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Consolidated                total                               |   | $                                                     | 13,065                                         |    | $ | 13,715 |   | $ | 43,694 |   | $ | 52,622 |   |
|                                                            |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Operating                expenses                               |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Recreational                vehicles                            |   | $                                                     | 10,984                                         |    | $ | 16,577 |   | $ | 28,719 |   | $ | 43,027 |   |
| Housing                and building                             |   |                                                  | 9,013                                          |    |   | 11,321 |   |   | 26,981 |   |   | 32,861 |   |
| Other                reconciling items                          |   |                                                  | (458                                           | )       |   | (1,889 | ) |   | (7,461 | ) |   | (5,451 | ) |
|                                                            |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Consolidated                total                               |   | $                                                     | 19,539                                         |    | $ | 26,009 |   | $ | 48,239 |   | $ | 70,437 |   |
|                                                            |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Operating                income (loss)                          |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Recreational                vehicles                            |   | $                                                     | (7,276                                         | )       | $ | (15,167 | ) | $ | (14,950 | ) | $ | (22,913 | ) |
| Housing                and building                             |   |                                                  | 344                                            |    |   | 984 |   |   | 2,944 |   |   | (353 | ) |
| Other                reconciling items                          |   |                                                  | 458                                            |    |   | 1,889 |   |   | 7,461 |   |   | 5,451 |   |
|                                                            |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Consolidated                total                               |   | $                                                     | (6,474                                         | )       | $ | (12,294 | ) | $ | (4,545 | )  | $ | (17,815 | ) |
|                                                            |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Pre-tax                income (loss) from continuing operations |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Recreational                vehicles                            |   | $                                                     | (6,959                                         | )       | $ | (15,480 | ) | $ | (15,028 | ) | $ | (23,541 | ) |
| Housing                and building                             |   |                                                  | 316                                            |    |   | 1,073 |   |   | 2,843 |   |   | (165 | ) |
| Other                reconciling items                          |   |                                                  | 352                                            |    |   | 1,766 |   |   | 7,086 |   |   | 5,451 |   |
|                                                            |   |                                                  |                                           |    |   |   |   |   |   |   |   |   |   |
| Consolidated                total                               |   | $                                                     | (6,291                                         | )  | $ | (12,641 | ) | $ | (5,099 | )  | $ | (18,255 | ) |

|                                   |   | September                30, |    | December                31, |   |
|----------------------------------------|--------|------------------------------|---------|-----------------------------|--------|
|                                   |   | 2006                         |    | 2005                        |   |
| Total                Assets            |   |                         |    |                        |   |   |   |
| Recreational                vehicles   |   | $                            | 125,323 |                        | $      | 152,501 |   |
| Housing                and building    |   |                         | 64,205  |                        |   | 83,338 |   |
| Other                reconciling items |   |                         | 97,773  |                        |   | 86,977 |   |
|                                   |   |                         |    |                        |   |   |   |
| Total                                  |   | $                            | 287,301 |                        | $      | 322,816 |   |

----

Index

**3.         INVENTORIES.**

|                                 |   | September                30, |    | December                31, |   |
|--------------------------------------|--------|------------------------------|---------|-----------------------------|--------|
|                                 |   | 2006                         |    | 2005                        |   |
| Raw                materials         |   |                         |    |                        |   |   |   |
| Recreational                vehicles |   | $                            | 17,399  |                        | $      | 19,770 |   |
| Housing                and building  |   |                         | 6,330   |                        |   | 13,643 |   |
| Total                                |   |                         | 23,729  |                        |   | 33,413 |   |
|                                 |   |                         |    |                        |   |   |   |
| Work                in process       |   |                         |    |                        |   |   |   |
| Recreational                vehicles |   |                         | 16,460  |                        |   | 15,515 |   |
| Housing                and building  |   |                         | 3,567   |                        |   | 5,280 |   |
| Total                                |   |                         | 20,027  |                        |   | 20,795 |   |
|                                 |   |                         |    |                        |   |   |   |
| Improved                lots         |   |                         |    |                        |   |   |   |
| Housing                and building  |   |                         | 220     |                        |   | 261 |   |
| Total                                |   |                         | 220     |                        |   | 261 |   |
|                                 |   |                         |    |                        |   |   |   |
| Finished                goods        |   |                         |    |                        |   |   |   |
| Recreational                vehicles |   |                         | 46,228  |                        |   | 48,935 |   |
| Housing                and building  |   |                         | 13,407  |                        |   | 17,900 |   |
| Total                                |   |                         | 59,635  |                        |   | 66,835 |   |
|                                 |   |                         |    |                        |   |   |   |
| Total                                |   | $                            | 103,611 |                        | $      | 121,304 |   |

**4.         PROPERTY, PLANT AND EQUIPMENT.**

|                                              |   | September                30,2006 |    | December                31,2005 |   |
|---------------------------------------------------|--------|----------------------------------|---------|---------------------------------|--------|
|                                              |   |                             |    |                            |   |
| Land                and improvements              |   | $                                | 11,598  |                            | $      | 13,255 |   |
| Buildings                and improvements         |   |                             | 61,266  |                            |   | 68,007 |   |
| Machinery                and equipment            |   |                             | 24,472  |                            |   | 31,468 |   |
| Transportation                equipment           |   |                             | 14,583  |                            |   | 16,279 |   |
| Office                furniture and fixtures      |   |                             | 17,829  |                            |   | 19,080 |   |
|                                              |   |                             |    |                            |   |   |   |
| Total                                             |   |                             | 129,748 |                            |   | 148,089 |   |
| Less,                accumulated depreciation     |   |                             | 71,400  |                            |   | 80,508 |   |
|                                              |   |                             |    |                            |   |   |   |
| Property,                plant and equipment, net |   | $                                | 58,348  |                            | $      | 67,581 |   |

----

Index

**5.         ACCRUED EXPENSES AND OTHER LIABILITIES.**

|                                                                                                                                                 |   | September                30,2006 |   | December                31,2005 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|--------|---------------------------------|--------|
|                                                                                                                                                 |   |                             |   |                            |   |
| Wages,                salaries, bonuses and commissions                                                                                              |   | $                                | 2,873  |                            | $      | 3,156 |   |
| Dealer                incentives, including volume bonuses, dealer trips, interest                reimbursement, co-op advertising and other rebates |   |                             | 4,884  |                            |   | 4,284 |   |
| Warranty                                                                                                                                             |   |                             | 11,519 |                            |   | 20,005 |   |
| Insurance-products                and general liability, workers compensation, group health and                other                                 |   |                             | 8,179  |                            |   | 6,833 |   |
| Customer                deposits and unearned revenues                                                                                               |   |                             | 4,756  |                            |   | 10,029 |   |
| Litigation                                                                                                                                           |   |                             | 504    |                            |   |  3,740 |   |
| Interest                                                                                                                                             |   |                             | 630    |                            |   |  1,980 |   |
| Sales                and property taxes                                                                                                              |   |                             | 1,754  |                            |   |  1,948 |   |
| Other                current liabilities                                                                                                             |   |                             | 4,195  |                            |   | 2,881 |   |
|                                                                                                                                                 |   |                             |   |                            |   |   |   |
| Total                                                                                                                                                |   | $                                | 39,294 |                            | $      | 54,856 |   |

|                                                                                                                   |  Three                Months Ended September 30, |  Nine                Months Ended September 30, |        |
|------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------|------------------------------------------------------|-------------|
|                                                                                                                   |                                                  | 2006                                                 |        | 2005 |   | 2006 |   | 2005 |   |
|                                                                                                                   |                                                  |                                                 |        |   |   |   |   |   |   |   |   |   |   |
| Balance                of accrued warranty at beginning of period                                                      |                                                  | $                                                    | 13,359      |   | $ | 10,780 |   | $ | 20,005 |   | $ | 10,140 |   |
|                                                                                                                   |                                                  |                                                 |        |   |   |   |   |   |   |   |   |   |   |
| Warranties                issued during the period and changes in liability for pre-existing                warranties |                                                  |                                                 |  4,411 |   |   |  12,114 |   |   |  15,576 |   |   |  23,657 |   |
|                                                                                                                   |                                                  |                                                 |        |   |   |   |   |   |   |   |   |   |   |
| Cash                settlements made during the period                                                                 |                                                  |                                                 | (6,251      | )  |   | (6,790 | )  |   | (24,062 | )  |   | (17,693 | )  |
|                                                                                                                   |                                                  |                                                 |        |   |   |   |   |   |   |   |   |   |   |
| Balance                of accrued warranty at September 30                                                             |                                                  | $                                                    | 11,519      |   | $ | 16,104 |   | $ | 11,519 |   | $ | 16,104 |   |

**6.         COMPREHENSIVE INCOME (LOSS).**

|                                                                       |  Three                Months Ended September 30, |   | Nine                Months Ended September 30, |   |
|----------------------------------------------------------------------------|-------------------------------------------------------|--------|------------------------------------------------|--------|
|                                                                       |                                                  | 2006   |                                           | 2005   |   | 2006 |   | 2005 |   |
|                                                                       |                                                  |   |                                           |   |   |   |   |   |   |   |   |   |   |
| Net                loss                                                    |                                                  | $      | (3,516                                         | )      | $ | (9,346 | )  | $ | (302) |   | $ | (12,202 | )  |
| Unrealized                losses on securities held for sale, net of taxes |                                                  |   | -                                              |   |   | - |   |   | - |   |   | (188 | ) |
| Unrealized                gains (losses) on cash flow hedges, net of taxes |                                                  |   | (28)                                           |   |   | 44 |   |   | (4) |   |   | 76 |   |
|                                                                       |                                                  |   |                                           |   |   |   |   |   |   |   |   |   |   |
| Comprehensive                loss                                          |                                                  | $      | (3,544                                         | )      | $ | (9,302 | )  | $ | (306 | ) | $ | (12,314 | ) |

----

Index

**7.         EARNINGS PER SHARE.**

|                                                                         |   | Three                Months Ended September 30, |         | Nine                Months Ended September 30, |   |
|------------------------------------------------------------------------------|--------|-------------------------------------------------|--------------|------------------------------------------------|--------|
|                                                                         |   | 2006                                            |         | 2005                                           |   | 2006 |   | 2005 |   |
| Numerator:                                                                   |   |                                            |         |                                           |   |   |   |   |   |   |   |   |   |
| Net                loss available to common stockholders                     |   | $                                               | (3,516       | )                                              | $      | (9,346 | )  | $ | (302 | ) | $ | (12,202 | )  |
| Denominator:                                                                 |   |                                            |         |                                           |   |   |   |   |   |   |   |   |   |
| Number                of shares outstanding, end of period:                  |   |                                            |         |                                           |   |   |   |   |   |   |   |   |   |
| Weighted                average number of common shares used in basic EPS    |   |                                            |  15,634 |                                           |   |  15,556 |   |   |  15,664 |   |   |  15,545 |   |
| Effect                of dilutive securities                                 |   |                                            | -            |                                           |   | - |   |   | - |   |   | - |   |
| Weighted                average number of common shares used in dilutive EPS |   |                                            |  15,634 |                                           |   |  15,556 |   |   |  15,664 |   |   |  15,545 |   |

**8.   INCOME      TAXES.**

**9.**  **RESTRUCTURING CHARGES AND DISCONTINUED OPERATIONS.**

----

Index

**Housing      and Building Segment**

----

Index

|                                          |   |   |   | 2005   |   |
|-----------------------------------------------|--------|--------|--------|--------|--------|
|                                          |   |   |   |   |   |
| Cash                                          |   |   |   |   | $      | 242 |   |
| Accounts                and other receivables |   |   |   |   |   | 4,401 |   |
| Prepaid                expenses               |   |   |   |   |   | 510 |   |
| Inventories                                   |   |   |   |   |   | 10,423 |   |
| Other                long-term assets         |   |   |   |   |   | 124 |   |
| Fixed                assets                   |   |   |   |   |   | 34 |   |
| Accounts                payable               |   |   |   |   |   | (1,777 | ) |
| Other                current liabilities      |   |   |   |   |   | (5,341 | ) |
|                                          |   |   |   |   |   |   |   |
| Net                assets held for sale       |   |   |   |   | $      | 8,616 |   |

**Recreational      Vehicle Segment**

|                                          |   |   |   | 2005   |   |
|-----------------------------------------------|--------|--------|--------|--------|--------|
|                                          |   |   |   |   |   |
| Accounts                and other receivables |   |   |   |   | $      | 781 |   |
| Prepaid                expenses               |   |   |   |   |   | 51 |   |
| Inventories                                   |   |   |   |   |   | 909 |   |
| Other                long-term assets         |   |   |   |   |   | 437 |   |
| Fixed                assets                   |   |   |   |   |   | 4,144 |   |
| Accounts                payable               |   |   |   |   |   | (116 | ) |
| Other                current liabilities      |   |   |   |   |   | (495 | ) |
|                                          |   |   |   |   |   |   |   |
| Net                assets held for sale  |   |   |   |   | $      | 5,711 |   |

----

Index

**10.       COMMITMENTS AND CONTINGENCIES. **

**Obligation      to Purchase Consigned Inventories **

**Repurchase      Agreements**

**Corporate      Guarantees**

----

Index

**Litigation**

**Share      Repurchase Programs**

----

Index

**11.       STOCK-BASED COMPENSATION. **

*Accounting      for Stock Issued to Employees*
*Accounting      for Stock-Based Compensation*
*Share-Based      Payment*

----

Index

|                                                                                                                                                                    |   | Three                Months Ended |   | Nine                Months Ended  |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|--------|-----------------------------------|--------|
|                                                                                                                                                                    |   | September                30, 2005 |   | September                30, 2005 |   |
|                                                                                                                                                                    |   |                              |   |                              |   |   |   |
| Net                loss, as reported                                                                                                                                    |   | $                                 | (9,346 | )                            | $      | (12,202 | ) |
| Add:                stock-based compensation expense (credit) under variable plan included                in                reporting net income, net of taxes     |   |                              | (353   | )                            |   | (865 | ) |
| Deduct:                total stock-based compensation expense determined under fair value                based                method for all awards, net of taxes  |   |                              | 505    |                              |   | 795 |   |
| Pro                forma net loss                                                                                                                                  |   | $                                 | (9,194 | )                            | $      | (12,272 | ) |
|                                                                                                                                                                    |   |                              |   |                              |   |   |   |
| Loss                per share:                                                                                                                                     |   |                              |   |                              |   |   |   |
| Basic                - as reported                                                                                                                                 |   | $                                 | (.60   | )                            | $      | (.78 | ) |
| Basic                - pro forma                                                                                                                                   |   | $                                 | (.59   | )                            | $      | (.79 | ) |
|                                                                                                                                                                    |   |                              |   |                              |   |   |   |
| Diluted                - as reported                                                                                                                               |   | $                                 | (.60   | )                            | $      | (.78 | ) |
| Diluted                - pro forma                                                                                                                                 |   | $                                 | (.59   | )                            | $      | (.79 | ) |

**12.       SHORT-TERM BORROWINGS.**

**13.       NEW ACCOUNTING PRONOUNCEMENTS. **

*Accounting      for Uncertainty in Income Taxes*

----

Index

**Coachmen      Industries, Inc. and Subsidiaries**

**Management’s      Discussion and Analysis of**

**Financial      Condition and Results of Operations**

|                                                                                                 |   | Comparison                of                     |    |
|------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------|---------|
|                                                                                                 |   | Three                Months                      |    | Nine                Months |   |
|                                                                                                 |   | Ended                September 30, 2006 and 2005 |    |
|                                                                                                 |   | Increases                (Decreases)             |    |
|                                                                                                 |   | Amount                                           |    | Percentage |   | Amount |   | Percentage |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                sales                                                                             |   | $                                                | (49,453 | ) |   | (27.4 | ) | % |   | $ | (113,858 | ) |   | (20.2 | ) | % |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost                of sales                                                                         |   |                                             | (48,803 | ) |   | (29.3 | ) |   |   |   | (104,930 | ) |   | (20.6 | ) |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Delivery                expenses                                                                     |   |                                             | (1,599  | ) |   | (18.4 | ) |   |   |   | (2,032 | ) |   | (8.0 | ) |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Selling                expenses                                                                      |   |                                             | (172    | ) |   | (2.6 | ) |   |   |   | (4,858 | ) |   | (22.3 | ) |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| General                and administrative expenses                                                   |   |                                             | (3,588  | ) |   | (36.6 | ) |   |   |   | (8,188 | ) |   | (36.2 | ) |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain                on sale of assets, net                                                           |   |                                             | 1,111   |   |   | n/m |   |   |   |   | 7,120 |   |   | n/m |   |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                expense                                                                      |   |                                             | 122     |   |   | 15.4 |   |   |   |   | 239 |   |   | 10.1 |   |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Investment                income                                                                     |   |                                             | 67      |   |   | 18.9 |   |   |   |   | (447 | ) |   | (27.7 | ) |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other                income, net                                                                     |   |                                             | 585     |   |   | n/m |   |   |   |   | 572 |   |   | n/m |   |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss                from continuing operations before income taxes                                   |   |                                             | (6,350  | ) |   | (50.2 | ) |   |   |   | (13,156 | ) |   | (72.1 | ) |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income                tax benefit                                                                    |   |                                             | (3,529  | ) |   | (54.6 | ) |   |   |   | (6,217 | ) |   | (65.7 | ) |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                loss from continuing operations                                                   |   |                                             | (2,821  | ) |   | (45.7 | ) |   |   |   | (6,939 | ) |   | (80.0 | ) |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income                (loss) from operations of discontinued operations, net of                taxes |   |                                             | 3,009   |   |   | 94.9 |   |   |   |   | 4,961 |   |   | 145.4 |   |   |   |
|                                                                                                 |   |                                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                loss                                                                              |   |                                             | (5,830  | ) |   | (62.4 | ) |   |   |   | (11,900 | ) |   | (97.5 | ) |   |   |

----

Index

|                                              |   | Three                Months Ended September 30, |   | Nine                Months Ended September 30, |   |
|---------------------------------------------------|--------|-------------------------------------------------|--------|------------------------------------------------|--------|
|                                              |   | 2006                                            |   | 2005                                           |   | 2006 |   | 2005 |   |
|                                              |   |                                            |   |                                           |   |   |   |   |   |   |   |   |   |
| (Gain)                loss on sale of assets, net |   | $                                               | (291   | )                                              | $      | 820 |   | $ | (6,340 | ) | $ | 780 |   |
| Legal                settlements                  |   |                                            | -      |                                           |   |  - |   |   |  3,620 |   |   |  4,425 |   |

**NET      SALES**

**COST      OF SALES**

----

Index

**OPERATING      EXPENSES**

**GAIN      ON THE SALE OF ASSETS, NET**

**INTEREST      EXPENSE**

**INVESTMENT      INCOME**

----

Index

**OTHER      INCOME, NET**

**INCOME      TAXES**

**DISCONTINUED      OPERATIONS**

----

Index

**NET      INCOME (LOSS)**

**LIQUIDITY,      CAPITAL RESOURCES AND FINANCIAL CONDITION**

----

Index

**CRITICAL      ACCOUNTING POLICIES**

**Statement      of Operations Classification **

**FORWARD-LOOKING      STATEMENTS**

| §                | the                potential fluctuations in the Company's operating                results; |
|----------------------------|----------------------------------------------------------------------------------------------|

| §   | the                availability for floorplan financing for the Company's recreational                vehicle dealers and corresponding availability of cash to the                Company; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | uncertainties                regarding the impact on sales of the disclosed restructuring steps                in both                the Recreational Vehicle and Housing and Building                Segments; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | the                ability to sell and close the operations for sale as                described; |
|--------------------|---------------------------------------------------------------------------------------------------|

| §   | the                accuracy of the estimates of the costs to remedy the disclosed                recreational vehicle warranty                issues; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | price                volatility of materials used in production and the ability to pass                on                rapidly increasing costs of product components and raw materials                to end                buyers; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | uncertainties                and timing with respect to sales resulting from recovery efforts                in the                Gulf Coast; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | the                availability and price of gasoline and diesel fuel, which can impact                the                sale of recreational vehicles; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | the                Company's dependence on chassis and other suppliers; |
|--------------------|-------------------------------------------------------------------------|

| §   | interest                rates, which affect the affordability of the Company's                products; |
|--------------------|---------------------------------------------------------------------------------------------------------|

----

Index

| §   | the              impact of performance on the valuation of intangible              assets; |
|--------------------|--------------------------------------------------------------------------------------------|
| §   | the                availability and cost of real estate for residential housing; |
|--------------------|----------------------------------------------------------------------------------|
| §   | the                supply of existing homes within the Company's markets; |
|--------------------|---------------------------------------------------------------------------|

| §   | the              impact of home values on housing demand; |
|--------------------|-----------------------------------------------------------|
| §   | the                increased size and scope of work of commercial and military housing                projects as compared to the Company's traditional single-family homes                business;  |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | the                ability of the Housing and Building Segment to perform in new market                segments where it has limited experience; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | adverse                weather conditions affecting home                deliveries; |
|--------------------|-------------------------------------------------------------------------------------|

| §   | potential                liabilities under repurchase agreements and guarantees; |
|--------------------|----------------------------------------------------------------------------------|

| §   | changing                government regulations, such as those covering accounting standards; |
|--------------------|----------------------------------------------------------------------------------------------|

| §   | environmental                matters or product warranties and recalls, which may affect costs                of                operations, revenues, product acceptance and profitability; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | legislation                governing the relationships of the Company with its recreational                vehicle                dealers, which may affect the Company’s options and liabilities in the                event of a general economic downturn; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | consolidation                of distribution channels in the recreational vehicle industry; |
|--------------------|---------------------------------------------------------------------------------------------|

| §   | the                impact of consumer confidence and economic uncertainty on high-cost                discretionary product purchases, which can hinder the sales of                recreational vehicles; and |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | the                state of the recreational vehicle and housing industries in the United                States. |
|--------------------|------------------------------------------------------------------------------------------------------------------|

| §   | changes                in property taxes and energy costs; |
|--------------------|------------------------------------------------------------|

| §   | changes                in federal income tax laws and federal mortgage financing                programs; |
|--------------------|-----------------------------------------------------------------------------------------------------------|

| §   | competition                in the industries in which the Company                operates; |
|--------------------|--------------------------------------------------------------------------------------------|

| §   | consumer                confidence; |
|--------------------|-------------------------------------|

| §   | oil                supplies; |
|--------------------|------------------------------|

| §   | the                Company’s ability to increase gross margins which are critical to                profitability whether there are or are not increased sales; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | the                Company’s use of incentives at either the wholesale or retail level; |
|--------------------|-----------------------------------------------------------------------------------------------|

| §   | further                developments in the war on terrorism and related international crises;                and |
|--------------------|------------------------------------------------------------------------------------------------------------------|

| §   | uncertainties                of matters in litigation and other risks and uncertainties. |
|--------------------|------------------------------------------------------------------------------------------|

----

Index

**ITEM      3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET      RISK**

**ITEM      4. CONTROLS AND PROCEDURES**

----

Index

**PART      II. OTHER INFORMATION**

Item      6. Exhibits

----

Index

**SIGNATURES**

**COACHMEN      INDUSTRIES, INC.**

| Date:                November 2,                2006 | By:    | /s/                Richard M. Lavers                      |
|------------------------------------------------------|--------|-----------------------------------------------------------|
|                                                 |   | Richard                M. Lavers, Chief Executive Officer |
|                                                 |   |                                                      |
|                                                 |   |                                                      |
|                                                 |   |                                                      |
|                                                 |   |                                                      |
|                                                 |   |                                                      |
| Date:                November 2,                2006 | By:    | /s/                Colleen A. Zuhl                        |
|                                                 |   | Colleen                A. Zuhl, Chief Financial Officer   |
|                                                 |   |                                                      |
|                                                 |   |                                                      |
|                                                 |   |                                                      |
|                                                 |   |                                                      |
|                                                 |   |                                                      |
|                                                 |   |                                                      |
|                                                 |   |                                                      |

----

Index

**INDEX      TO EXHIBITS**

| Number                AssignedIn                RegulationS-K,                Item 601 | Description                of Exhibit                                                                                                                                                                                                                                                                                                            |
|----------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                   |                                                                                                                                                                                                                                                                                                                                             |
| (3)(a)(i)                                                                              | Articles                of Incorporation of the Company as amended on May 30, 1995 (incorporated                by reference to Exhibit 3(i) to the Company's Annual Report on Form                10-K                for the fiscal year ended December 31, 1995).                                                                             |
|                                                                                   |                                                                                                                                                                                                                                                                                                                                             |
| (3)(a)(ii)                                                                             | Articles                of Amendment to Articles of Incorporation (incorporated by reference                to                Exhibit 4.2 to the Company's Form S-3 Registration Statement, File                No.                333-14579).                                                                                                   |
|                                                                                   |                                                                                                                                                                                                                                                                                                                                             |
| (3)(b)                                                                                 | By-Laws                as modified through September 9, 2005 (incorporated by reference                to the                Company's Form 8-K filed September 15, 2005).                                                                                                                                                                  |
|                                                                                   |                                                                                                                                                                                                                                                                                                                                             |
| *(10)(a)                                                                          | Severance              and Early Retirement Agreement and General Release of All Claims dated              October 23, 2006 among Coachmen Industries, Inc. and Claire C.              Skinner.                                                                                                                                             |
|                                                                                   |                                                                                                                                                                                                                                                                                                                                             |
| *(10)(b)                                                                          | Form                of Restricted Stock Award Agreement under the Coachmen Industries,                Inc.                2000 Omnibus Stock Incentive Program (incorporated by reference to                Exhibit                A to the Company's Proxy Statement dated March 27, 2000 for its Annual                Meeting in 2000).  |
|                                                                                   |                                                                                                                                                                                                                                                                                                                                             |
| (31.1)                                                                                 | Rule                13a-14(a) Certification of Chief Executive Officer.                                                                                                                                                                                                                                                                          |
|                                                                                   |                                                                                                                                                                                                                                                                                                                                             |
| (31.2)                                                                                 | Rule                13a-14(a) Certification of Chief Financial Officer.                                                                                                                                                                                                                                                                          |
|                                                                                   |                                                                                                                                                                                                                                                                                                                                             |
| (32.1)                                                                                 | Section                1350 Certification of Chief Executive Officer.                                                                                                                                                                                                                                                                            |
|                                                                                   |                                                                                                                                                                                                                                                                                                                                             |
| (32.2)                                                                                 | Section                1350 Certification of Chief Financial Officer.                                                                                                                                                                                                                                                                            |
|                                                                                   |                                                                                                                                                                                                                                                                                                                                             |
| *              Management Contract or Compensatory Plan.                               |

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