SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C. 20549

                                Form 10-Q

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

For the quarterly period ended March 31, 1998

                                  OR

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

For the transition period from__________________to__________________

Commission file number  1-7160

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

              INDIANA                            35-1101097
  (State or other jurisdiction of             (I.R.S. Employer
   incorporation or organization)          Identification number)

          601 EAST BEARDSLEY AVENUE, ELKHART, INDIANA 46514
         (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code      219-262-0123

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

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practical date:

    At April 30, 1998:

    Common Shares, without par value 17,390,249 shares outstanding
    including an equivalent number of common share purchase rights.

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                       COACHMEN INDUSTRIES, INC.
                                INDEX
                                                            Page No.

 PART I.  FINANCIAL INFORMATION

    Financial Statements:

       Condensed Consolidated Balance Sheets-
       March 31, 1998 and December 31, 1997....................3-4

       Condensed Consolidated Statements of Income-
       Three Months Ended March 31, 1998 and 1997.............. 5

       Condensed Consolidated Statements of Cash Flows-
       Three Months Ended March 31, 1998 and 1997.............. 6

       Notes to Condensed Consolidated Financial Statements.....7

    Management's Discussion and Analysis of Financial
    Condition and Results of Operations........................8-11

PART II.  OTHER INFORMATION.................................... 12

    Item 6.  Exhibits and Reports on Form 8-K

SIGNATURES..................................................... 12

This Report contains certain statements that are "forward-looking" statements
within the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, as amended. Those statements 
include, but are not limited to statements related to the availability of 
gasoline, which can impact sales of recreational vehicles; availability of
chassis, which are used in the production of many of the Company's recreational
vehicle products; interest rates, which affect the affordability of the
Company's products; and also on the state of the recreational vehicle and 
modular housing industries in the United States.  Other factors affecting
forward-looking statements include competition in these industries and the
Company's ability to maintain or increase gross margins which are critical to
the profitability whether there are or are not increased sales; and the
Company's ability to make its software compliant with the year 2000.  At
times, the Company's actual performance differs materially from its 
projections and estimates regarding the economy, the recreational vehicle and
housing industries and other key performance indicators.  Readers of this 
Report are cautioned that reliance on any forward-looking statements involves
risks and uncertainties.  Although the Company believes that the assumptions 
on which the forward-looking statements contained herein are based are
reasonable, any of those assumptions could prove to be inaccurate given the
inherent uncertainties as to the occurrence or nonoccurrence of future 
events.  There can be no assurance that the forward-looking statements contained
in this Report will prove to be accurate.  The inclusion of a forward-looking
statement herein should not be regarded as a representation by the Company
that the Company's objectives will be achieved.

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                      COACHMEN INDUSTRIES, INC.
                CONDENSED CONSOLIDATED BALANCE SHEETS

                                               MARCH 31,  DECEMBER 31,
                                                 1998         1997

ASSETS
CURRENT ASSETS
  Cash and temporary cash investments        $ 46,030,925  $71,427,918
  Short-term investments                       20,803,930   15,852,718
  Trade receivables, less allowance for
   doubtful receivables 1998 - $1,152,000
   and 1997 - $1,354,000                       35,816,166   25,212,595
  Other receivables                             3,678,693    2,980,257
  Refundable income taxes                       1,761,000    1,761,000
  Inventories                                  84,978,233   68,416,006
  Prepaid expenses and other                    1,546,197    1,247,973
  Deferred income taxes                         3,040,000    3,040,000

    Total current assets                      197,655,144  189,938,467

PROPERTY AND EQUIPMENT, at cost
  Land and improvements                        10,640,807    9,041,817
  Buildings and improvements                   45,817,834   39,950,161
  Machinery and equipment                      17,630,309   16,874,788
  Transportation equipment                     12,496,782   10,159,168
  Office furniture and fixtures                 5,954,726    5,712,961

    Total property and equipment, at cost      92,540,458   81,738,895

  Less, Accumulated depreciation               36,731,636   35,137,268

    Net property and equipment                 55,808,822   46,601,627

OTHER ASSETS
  Real estate held for sale                     4,089,603    4,188,063
  Rental properties                             1,417,592    2,000,218
  Intangibles, less accumulated amortization
   1998 - $550,498 and 1997 - $516,469          4,893,778    4,927,807
  Deferred income taxes                           569,000      569,000
  Other                                        10,171,431   10,836,844

     Total other assets                        21,141,404   22,521,932

TOTAL ASSETS                                 $274,605,370 $259,062,026

The accompanying notes are part of the condensed
consolidated financial statements.

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                      COACHMEN INDUSTRIES, INC.
            CONDENSED CONSOLIDATED BALANCE SHEETS (CONT'D)

                                              MARCH 31,  DECEMBER 31,
                                                 1998        1997

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
  Current maturities of long-term debt       $  2,258,519  $ 2,258,519
  Accounts payable, trade                      28,342,350   22,818,303
  Accrued wages, salaries and commissions       4,158,364    4,876,790
  Accrued dealer incentives                     4,252,197    3,226,255
  Accrued warranty expense                      6,059,666    6,013,528
  Accrued income taxes                          4,306,526    1,529,543
  Accrued insurance                             3,183,365    2,319,518
  Other liabilities                             7,977,433    6,633,762

    Total current liabilities                  60,538,420   49,676,218

LONG-TERM DEBT                                 11,032,632   12,591,144

OTHER                                           6,693,661    6,658,872

    Total liabilities                          78,264,713   68,926,234

SHAREHOLDERS' EQUITY
  Common shares, without par value: authorized
   60,000,000 shares; issued 1998 - 20,768,343
   shares and 1997 - 20,689,214 shares         88,261,484   87,519,740
  Additional paid-in capital                    3,035,198    3,012,596
  Retained earnings                           121,416,613  115,984,289
  Treasury shares, at cost: 1998 - 3,386,462
   Shares and 1997 - 3,387,648 shares         (16,372,638) (16,380,833)

     Total shareholders' equity               196,340,657  190,135,792

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY   $274,605,370 $259,062,026

The accompanying notes are part of the condensed consolidated
financial statements.

<PAGE>  4

                      COACHMEN INDUSTRIES, INC.
             CONDENSED CONSOLIDATED STATEMENTS OF INCOME

                                                  THREE MONTHS
                                                 ENDED MARCH 31,

                                             1998               1997

Net sales                                $175,637,459       $158,105,811

Cost of goods sold                        152,261,070        137,770,440

    Gross profit                           23,376,389         20,335,371

Operating expenses:
  Selling and delivery                      9,066,279          8,330,879
  General and administrative                6,775,098          6,007,899

                                           15,841,377         14,338,778

    Operating income                        7,535,012          5,996,593

Nonoperating income (expense):
  Interest expense                           (465,160)          (356,256)
  Investment income                         1,128,083            992,464
  Gain on sale of properties, net               5,034              9,456
  Other, net                                  873,446             93,777

                                            1,541,403            739,441

    Income before income taxes              9,076,415          6,736,034

Income taxes                                2,777,000          2,317,000

    Net income                           $  6,299,415       $  4,419,034

Earnings per common share:
    Basic                                $        .36       $        .26
    Diluted                              $        .36       $        .25

Number of common shares used in the
 computation of earnings per share:
    Basic                                  17,339,620         17,202,020
    Diluted                                17,633,166         17,433,965

Cash dividends per common share          $        .05        $       .05

The accompanying notes are part of the condensed consolidated 
financial statements.

<PAGE>  5

                      COACHMEN INDUSTRIES, INC.
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                                                    THREE MONTHS
                                                   ENDED MARCH 31,
                                                 1998          1997

CASH FLOWS FROM OPERATING ACTIVITIES
  Net cash provided by (used in)
   operating activities                       $(6,180,627) $ 11,269,442

CASH FLOWS FROM INVESTING ACTIVITIES
  Proceeds from:
   Sale of short-term investments              31,291,922             -
   Sale of properties                             111,262       113,707
  Acquisitions of:
   Short-term investments                     (36,352,312)            -
   Property and equipment                      (4,365,594)   (3,951,450)
   Businesses                                  (9,001,812)            -
  Other                                           322,705       410,906

    Net cash (used in) investing
     activities                               (17,993,829)   (3,426,837)

CASH FLOWS FROM FINANCING ACTIVITIES
  Payments of long-term debt                   (1,558,512)   (1,557,610)
  Issuance of common shares under stock
   option and stock purchase plans                741,744       214,927
  Tax benefit from stock options exercised        461,322        35,440
  Cash dividends paid                            (867,091)     (860,030)

    Net cash (used in) financing activities    (1,222,537)   (2,167,273)

Increase (decrease) in cash and temporary
    cash investments                          (25,396,993)    5,675,332

CASH AND TEMPORARY CASH INVESTMENTS
  Beginning of period                          71,427,918    66,448,901
  End of period                              $ 46,030,925  $ 72,124,233

Noncash investing and financing
 activities:
  Liabilities assumed in acquisitions
   of businesses                             $    795,000  $          -

The accompanying notes are part of the condensed consolidated
financial statements.

<PAGE>  6

                      COACHMEN INDUSTRIES, INC.
         NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.   The consolidated balance sheet data as of December  31, 1997 was
     derived from audited financial statements, but does not include all
     disclosures  required by generally accepted  accounting principles.

2.   In the opinion of management, the information furnished herein
     includes  all  adjustments of a  normal  and  recurring nature necessary
     to  reflect  a  fair statement of the  interim  periods reported.  The
     results of operations for the three months ended  March 31, 1998 are
     not necessarily indicative of the results to be expected for the full year.

3.   Inventories consist of the following:

                                   March 31,           December 31,
                                     1998                  1997

    Raw material                 $ 24,779,920          $ 19,437,977
    Work-in-process                 9,754,803             9,327,308
    Finished goods                 50,443,510            39,650,721

     Total                       $ 84,978,233          $ 68,416,006

4.  The Company was contingently liable at March 31, 1998 to banks
    and other financial institutions on repurchase agreements in
    connection with financing provided by such institutions to most of
    the Company's independent dealers in connection with their purchase
    of the Company's recreational vehicle products.  These agreements
    provide for the Company to repurchase its products from the
    financing institution in the event that they have repossessed them
    upon a dealer's default.  The risk of loss resulting from these
    agreements is spread over the Company's numerous dealers and is
    further reduced by the resale value of the products repurchased.
    The Company is involved in various legal proceedings which are
    ordinary litigations incidental to the industry and which are
    covered in whole or in part by insurance. Management believes that
    any liability which may result from these proceedings will not be
    significant.

5.  On February 3, 1998, the Company acquired certain assets and the 
    operations of three retail recreational vehicle dealerships, two located 
    in Florida and one in Georgia.  The assets acquired consisted of new and 
    used unit inventories, real and personal property, parts inventories,
    tools and supplies and other miscellaneous items.  The purchase price, 
    which aggregated $9.8 million and approximated the fair value of the 
    acquired assets, consisted of $9.0 million in cash and the balance in the
    assumption of certain liabilities of the sellers.  The acquisitions were
    accounted for as a purchase and the operating results of the acquired 
    businesses are included in the Company's consolidated financial 
    statements from the date of acquisition.  Pro forma financial information
    has not been presented as it is not materially different from the 
    Company's historical results.

<PAGE>  7

                      COACHMEN INDUSTRIES, INC.
                 MANAGEMENT'S DISCUSSION AND ANALYSIS
           OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following is management's discussion and analysis of certain significant 
factors which have affected the Company's financial condition, results of 
operations and cash flows during the periods included in the accompanying
condensed consolidated financial statements.

A summary of the changes in the principal items included in the condensed 
consolidated statements of income is shown below.

                                               Comparison of
                                                Three Months
                                       Ended March 31, 1998 and 1997
                                            Increases (Decreases)

                                             Amount     Percentage

Net sales                                $ 17,531,648     11.1%

Cost of goods sold                         14,490,630     10.5

Selling and
     delivery expenses                        735,400      8.8

General and
     administrative expenses                  767,199     12.8

Interest expense                              108,904     30.6

Investment income                             135,619     13.7

Gain on sale of
     properties, net                           (4,422)     *

Other, net                                    779,669      *

Income before income taxes                  2,340,381     34.7

Income taxes                                  460,000     19.9

Net income                                  1,880,381     42.6

* Not meaningful

<PAGE>  8

NET SALES

Consolidated net sales for the quarter ended March 31, 1998 were 
$175,637,459, an increase of 11.1% over $158,105,811 reported in the same 
quarter of 1997.  The Company's vehicle segment, which includes the parts and
supply businesses, experienced a sales increase of 12.2%.  Although unit sales
of towable products increased from the 1997 period, unit sales of motorized 
products posted the largest sales gains.  The Company's housing segment 
experienced a 4.9% increase in net sales for the quarter compared to last 
year's first quarter. This increase would have been higher if weather 
conditions had not delayed delivery of many sold homes.  While the RV segment
was up in the number of units sold, the Housing segment was nearly unchanged 
in the number of units sold compared to the first quarter of 1997. Both RV and
housing segments experienced increases in the average sales price per unit.

COST OF GOODS SOLD

Cost of goods sold increased 10.5% or $14,490,630 for the three months ended
March 31, 1998.  The increase is substantially in line with the increase in 
net sales. Cost of goods sold as a percentage of net sales was 86.7% for the
1998 quarter and 87.1% for the 1997 quarter. This percentage decrease is 
attributable to the 1997 capacity start-up costs incurred in the RV segment 
which were absorbed in the prior period.  For both quarters, the favorable 
gross margins for the RV segment were offset by lower gross margins for the
housing segment.  The housing segment continued experiencing lower gross 
margins in 1998 attributable to the implementation of a 7-day work week 
production schedule at the Company's largest housing facility, though there has
been an improvement in the costs associated with this transition.

OPERATING EXPENSES

As a percentage of net sales, operating expenses, which include selling, 
delivery, general and administrative expenses, were 9.0% and 9.1% for the 
quarters ended March 31, 1998 and 1997, respectively.  Selling expenses were 
4.8% both periods, while delivery expenses decreased .1%.  General and 
administrative expenses were 3.9% of net sales for the first quarter of 1998 
and 3.8% of net sales for the first quarter of 1997.

INTEREST EXPENSE

Interest expense was $465,160 and $356,256 for the quarters ended March 31, 
1998 and 1997, respectively.  The increase was primarily the result of a 
smaller estimated increase in cash surrender value for the Company's 
investment in life insurance contracts in 1998 than in 1997.  These life
insurance contracts have been purchased to fund obligations under deferred 
compensation agreements with executives and other key employees.  The 
interest costs associated with deferred compensation obligations and with the
borrowings against the cash value of the insurance policies are partially 
offset by the increases in cash surrender values.

<PAGE>  9

INVESTMENT INCOME

Investment income increased $135,619 for the 1998 quarter from 1997.  
Investment income is indicative of the amounts of cash and temporary cash 
investments, as well as, short-term investments in 1998 compared to 1997.

GAIN ON THE SALE OF PROPERTIES, NET

The net gain on the sale of properties for the quarter ended March 31, 1998 
was $5,034 while the comparative quarter in 1997 was a gain of $9,456.  This 
classification represents the net result of the amount of gain or loss 
recognized upon the disposition of various small properties.

OTHER, NET

Other income, net, represents income of $873,446 for the 1998 first quarter 
and $93,777 for the 1997 first quarter.  The larger amount in 1998 is 
principally attributed to the recognition of $762,000 of key-man life 
insurance proceeds during the quarter.

INCOME TAXES

For the first quarter ended March 31, 1998, the effective tax rate was 30.6% 
compared to a first quarter tax rate of 34.4% in 1997.  The Company's 
effective tax rate fluctuates based upon the states where sales occur and 
also with the level of export sales.  The first quarter of 1998 was also
impacted by the amount of nontaxable income realized from the recognition of 
key-man life insurance proceeds.

LIQUIDITY AND CAPITAL RESOURCES

The Company generally relies on funds from operations as its primary source 
of liquidity. In addition, the Company maintains an unsecured committed line 
of credit, which totaled $30 million at March 31, 1998, to meet its seasonal
working capital needs.  At March 31, 1998, there were no borrowings against 
this line of credit. For the three months ended March 31, 1998, the major 
uses of cash were investing and operating activities.  The significant 
investing activities were purchases, net of sales, of short-term investments,
the acquisition of three businesses (recreational vehicle retail stores) and 
capital expenditures.  Property and equipment acquisitions consumed cash 
during the quarter primarily from the construction of an All American Homes 
manufacturing facility in the state of Ohio and the purchase of an existing 
recreational vehicle manufacturing facility in Indiana.  The significant uses
of cash in operating activities were the increase in receivables, due the 
increase in net sales, and the increase in inventories.  Inventories were 
increased in anticipation of the seasonal selling patterns.  The negative 
cash flow from financing activities was primarily for cash dividends and 
repayment of long-term debt.

<PAGE>  10

At March 31, 1998, working capital decreased to $137.1 million from $140.3 
million at December 31, 1997.  The $7.7 million increase in current assets at
March 31, 1998 versus December 31, 1997, was primarily due to increased
receivables and inventories.  The larger increase in current liabilities of 
$10.9 million is substantially due to increased trade payables, accrued 
income taxes and other accrued liabilities, including insurance.

<PAGE>  11

                     PART II. OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

     (a)  Exhibits

             Exhibit 27 - Financial Data Schedule

     (b)  Reports on Form 8-K

             None


                              SIGNATURES

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


                                     COACHMEN INDUSTRIES, INC.
                                           (Registrant)


                                  s/s:     GARY L. GROOM
Date: May 13, 1998                _______________________________
                                   Gary L. Groom, Executive Vice
                                    President - Finance (Principal
                                    Financial Officer)



                                  s/s:   WILLIAM M. ANGELO
Date: May 13, 1998                _______________________________
                                   William M. Angelo, Corporate
                                    Controller (Principal Accounting
                                    Officer)

<PAGE>  12