<PAGE>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  FORM 10-Q/A-1

(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, 2003

                                       OR

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

                For the transition period from ________to________
                         Commission file number 0-25198

                      UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.
                      -------------------------------------
             (Exact name of registrant as specified in its charter)

             Delaware                                   36-3973627
             --------                                   ----------
 (State or other jurisdiction of                     (I.R.S. Employer
  incorporation or organization)                    Identification No.)

                           11859 South Central Avenue
                              Alsip, Illinois 60803
                              ---------------------
                    (Address of principal executive offices)
                                   (Zip Code)

                                 (708) 293-4050
                                 --------------
              (Registrant's telephone number, including area code)

                                       N/A
                                       ---
   (Former name, former address and former fiscal year, if changed since last
                                     report)

     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 by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. Yes      No  X
                         -----   -----

The number of shares of issuer's Common Stock, par value $.01 per share,
outstanding as of May 12, 2003 was 8,224,949 shares.
<PAGE>
                      UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.

                                    FORM 10-Q

                                TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION

<TABLE>
<CAPTION>
                                                                                  Page(s)
                                                                                  -------
<S>                                                                               <C>
  Item 1. Financial Statements

     Consolidated Balance Sheets
          March 31, 2003 (Unaudited) and December 31, 2002                          3

     Consolidated Statements of Operations
          (Unaudited) - for the three months ended
          March 31, 2003 and 2002                                                   4

     Consolidated Statements of Cash Flows
          (Unaudited) - for the three months ended
          March 31, 2003 and 2002                                                   5

     Notes to Condensed Financial Statements (Unaudited)                            6 - 7

PART II. OTHER INFORMATION

  Items 1 through 5 are not applicable to the Company in this report                7

  Item 6 - Exhibits and Reports on Form 8-K                                         7

  Signatures                                                                        8

Exhibit 11 - Computation of Earnings Per Share

  Exhibit 31(a) Certificate of Chief Executive Officer

  Exhibit 31(b) Certificate of Chief Financial Officer

Exhibit 32 Certificate of Chief Executive Officer and Chief Financial Officer
</TABLE>

<PAGE>
                      UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                March 31, 2003   December 31, 2002
                                                                --------------   -----------------
                                                                  (Unaudited)
<S>                                                             <C>              <C>
                           Assets
Current assets:
Cash                                                             $    575,142      $   237,600
Accounts receivable - trade, net                                   13,740,851       12,702,701
Inventories                                                        15,137,841       17,051,952
Deferred income taxes                                                 240,000          240,000
Prepaid expenses and other current assets                             412,639          215,987
                                                                 ------------      -----------
                                                                   30,106,473       30,448,240
                                                                 ------------      -----------
Property and equipment, net                                         4,136,386        4,175,208
                                                                 ------------      -----------

Other assets:
Goodwill, net                                                         480,498          480,498
Due from stockholders                                                 351,354          345,296
Other assets                                                          687,377          695,542
                                                                 ------------      -----------
                                                                    1,519,229        1,521,336
                                                                 ------------      -----------
                                                                 $ 35,762,088      $36,144,784
                                                                 ============      ===========
            Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable, trade                                          $ 11,411,797      $10,212,291
Accrued expenses and other current liabilities                      2,126,033        2,608,466
Subordinated debenture, current portion                                83,631           84,020
Long-term indebtedness, current portion                               294,291          356,663
                                                                 ------------      -----------
                                                                   13,915,752       13,261,440
                                                                 ------------      -----------
Long-term liabilities:
Revolving line of credit                                           16,860,569       16,949,821
Subordinated debenture, non-current portion                         1,092,486        1,109,986
Long-term indebtedness, non-current portion                            79,436          110,510
Deferred rent expense                                                  30,419           30,419
                                                                 ------------      -----------
                                                                   18,062,910       18,200,736
                                                                 ------------      -----------
Stockholders' equity:
Preferred stock (authorized 2,000,000 shares, $.01 par
 value, 201,438 shares of Series A and 100,000 shares of
 Series B issued and outstanding)                                       3,014            3,014
Common stock (authorized 30,000,000 shares, $.01 par value,
 8,224,949 shares issued and outstanding at March 31, 2003
 and December 31, 2002)                                                82,249           82,249
Additional paid-in-capital                                         15,208,441       15,208,441
Accumulated deficit                                               (10,619,076)      (9,644,606)
Accumulated other comprehensive loss                                 (836,552)        (904,340)
Stock subscription receivable                                         (54,650)         (62,150)
                                                                 ------------      -----------
                                                                    3,783,426        4,682,608
                                                                 ------------      -----------
                                                                 $ 35,762,088      $36,144,784
                                                                 ------------      -----------
</TABLE>

    The accompanying notes are an integral part of the financial statements.

                                       3
<PAGE>
                      UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                           Three Months Ended March 31,
                                                          -----------------------------
                                                              2003              2002
                                                          -----------       -----------
<S>                                                       <C>               <C>
Net sales                                                 $15,016,910       $17,410,042
Cost of sales                                              13,268,771        14,221,962
                                                          -----------       -----------
Gross profit                                                1,748,139         3,188,080
Selling, general, and administrative expenses               2,491,562         2,671,346
                                                          -----------       -----------
(Loss) income from operations                                (743,423)          516,734
Other expense:
  Interest expense                                            238,841           363,417
  Other                                                        (7,794)            1,406
                                                          -----------       -----------
                                                              231,047           364,823
                                                          -----------       -----------
(Loss) income before provision for income taxes              (974,470)          151,911

Income tax provision                                                -                 -
                                                          -----------       -----------
Net (loss) income                                         $  (974,470)      $   151,911
                                                          ===========       ===========

Comprehensive (loss) income:
Net (loss) income                                         $  (974,470)      $   151,911
  Other comprehensive income (loss),
  Foreign currency translation adjustment                      67,788           (45,014)
                                                          -----------       -----------
Comprehensive (loss) income                               $  (906,682)      $   106,897
                                                          ===========       ===========
(Loss) earnings per share:

Basic                                                     $     (0.12)      $      0.02
Diluted                                                   $     (0.12)      $      0.01

Weighted average number of common shares outstanding:

Basic                                                       8,224,949         8,120,406
Common stock equivalents resulting from
 warrants and options                                               -         4,045,345
                                                          -----------       -----------
Diluted                                                     8,224,949        12,165,751
                                                          ===========       ===========
</TABLE>

     The accompanying notes are an integral part of the financial statements

                                       4
<PAGE>
                      UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                Three Months Ended March 31,
                                                                ----------------------------
                                                                    2003             2002
                                                                -----------      -----------
<S>                                                             <C>              <C>
Cash flows from operating activities:
Net (loss) income                                               $  (974,470)     $   151,911
Adjustments to reconcile net (loss) income
 to net cash provided by (used in) operating activities:
  Depreciation and amortization                                     236,770          285,761
  Provision for bad debts                                            47,612           85,519
  Compensation expense for stock options                                  -            9,900
  Other, net                                                          7,500          (12,013)
  Changes in operating assets and liabilities:
    Accounts receivable, trade                                   (1,085,762)      (1,012,955)
    Inventories                                                   1,914,111          936,130
    Prepaid expenses and other current assets                      (221,040)        (193,559)
    Other assets                                                          -           55,376
    Accounts payable, trade                                       1,199,508         (470,709)
    Accrued expenses and other current liabilities                 (482,434)        (475,767)
                                                                -----------      -----------
Net cash provided by (used in) operating activities                 641,795         (640,406)
Cash flows for investing activities:
  Advances to stockholders, net                                      (1,458)               -
  Purchase of property and equipment                               (102,820)        (127,064)
                                                                -----------      -----------
Net cash used in investing activities                              (104,278)        (127,064)
Cash flows from financing activities:
  Net decrease in revolving loan indebtedness                       (89,252)        (367,647)
  Principal payments on notes payable and subordinated debt        (111,335)        (290,685)
  Common stock issued by exercise of options and warrants                 -          595,624
                                                                -----------      -----------
Net cash (used in) financing activities                            (200,587)         (62,708)

Effect of exchange rate changes on cash                                 612          (45,014)

Net  increase (decrease) in cash                                    337,542         (875,192)
Cash, beginning of period                                           237,600          976,585
                                                                -----------      -----------
Cash, end of period                                             $   575,142      $   101,393
                                                                ===========      ===========

Supplemental disclosures of cash flow information:
  Cash paid for interest                                        $   235,723      $   371,087
                                                                -----------      -----------
  Cash paid for income taxes                                    $     1,900      $         -
                                                                ===========      ===========
</TABLE>

    The accompanying notes are an integral part of the financial statements.

                                       5
<PAGE>
                      UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)


1.   UNAUDITED INTERIM FINANCIAL STATEMENTS
Interim condensed financial statements are prepared pursuant to the requirements
for reporting on Form 10-Q. Accordingly, certain disclosures accompanying annual
financial statements prepared in accordance with generally accepted accounting
principles are omitted. For additional disclosures, see the Notes to
Consolidated Financial Statements contained in Universal Automotive Industries,
Inc. (the "Company") Annual Report on Form 10-K for the year ended December 31,
2002.

Our significant accounting policies are described in Note 2 to the Consolidated
Financial Statements contained in Universal Automotive Industries, Inc. (the
"Company") Annual Report on Form 10-K for the year ended December 31, 2002. The
application of these policies may require management to make judgments and
estimates about the amounts reflected in the financial statements. Management
uses historical experience and all available information to make these estimates
and judgments, and different amounts could be reported using different
assumptions and estimates.

In the opinion of management of the Company, all adjustments, consisting solely
of normal recurring adjustments, necessary for the fair presentation of the
financial statements for these interim periods have been included. The current
period's results of operations are not necessarily indicative of results, which
ultimately may be achieved for the year.

Certain reclassifications have been made for the period presented in the
financial statements to conform to the classifications presented in 2003.


2.   INVENTORIES

<TABLE>
<CAPTION>
                           March 31, 2003       December 31, 2002
                           --------------       -----------------
<S>                        <C>                  <C>
     Finished goods          $11,701,506           $13,815,563
     Work in process             726,001               510,264
     Raw materials             2,710,334             2,726,125
                             -----------           -----------
                             $15,137,841           $17,051,952
                             -----------           -----------
</TABLE>


3.   BASIS OF PRESENTATION

Net Loss Per Share
Warrants and options issued by the Company are only included in the computation
of weighted average number of shares, where their inclusion is not
anti-dilutive. For the three months ended March 31, 2003, common stock
equivalents are not included in the weighted average number of shares
outstanding in determining net loss per share.

Income Taxes
For the quarters ended March 31, 2003 and 2002, no provision for income taxes
has been provided. The Company believes that, consistent with accounting
principles generally accepted in the United States, it wasn't more likely than
not that the tax benefits associated with the balance of loss carryforwards and
other deferred tax assets will be realized through future taxable earnings or
alternative tax strategies. Accordingly, net deferred tax assets were offset
with a valuation allowance.

                                       6
<PAGE>
4.   LASALLE INDEBTEDNESS

The LaSalle Credit Agreement contains certain limitations on dividends and
capital expenditures and requires the Company to satisfy certain financial tests
concerning defined minimum tangible net worth and debt service coverage. At
March 31, 2003, the Company was not in compliance with a certain financial
covenant. On May 20, 2003, LaSalle informed the Company that it would waive such
violation upon completion of required documentation that will include certain
modifications and amendments to the Credit Agreement.


5.   RECENTLY ISSUED ACCOUNTING STANDARDS

In December 2002, the FASB issued Statement of Financial Accounting Standards
("SFAS") NO. 148, Accounting for Stock-Based Compensation-Transition and
Disclosure, which (i) amends SFAS No. 123, Accounting for Stock-Based
Compensation to add two new transitional approaches when changing from
Accounting Principles Board ("APB") Opinion No. 25, Accounting for Stock Issued
to Employees intrinsic value method of accounting for stock-based employee
compensation to the SFAS No. 123 fair value method and (ii) amends ABO Opinion
No. 28 Interim Financial Reporting to call for disclosure of SFAS No. 123
pro-forma information on a quarterly basis. The Company has elected to adopt the
disclosure only provisions of SFAS No. 148 and will continue to follow ABO
Opinion No. 25 and the related interpretations in accounting for the stock
options granted to its employees and directors. Accordingly, employee and
director compensation expense is recognized only for those options whose price
is less than fair market value at the measurement date.


6.   STOCK-BASED COMPENSATION

The Company has elected to follow APB Opinion NO. 25, Accounting for Stock
Issued to Employee, and related interpretations in accounting for the stock
options granted to employees and directors. Accordingly, employee and director
compensation expense is recognized only for those options whose price is less
than fair market value at the measurement date. The Company has adopted the
disclosure-only provisions of SFAS No. 125, Accounting for Stock-Based
Compensation, as amended.

Had the compensation cost for the Company's stock options plans been determined
in accordance with SFAS No. 123, the Company's reported earnings per share for
the three month periods ending March 31, 2003 and 2002, would differ by less
than $.01 per share from that which would have been recorded using the
Black-Scholes option valuation method.

                                       7
<PAGE>
PART II  OTHER INFORMATION

ITEMS 1 THROUGH 5 ARE NOT APPLICABLE TO THE COMPANY IN THIS REPORT.

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K

a) Exhibits

     11 Computation of Earnings per Share
     31(a) Certification of Chief Executive Officer
     31(b) Certification of Chief Financial Officer
     32 Section 1350 Certification

                                       8
<PAGE>
                                   SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the Securities and
Exchange Act of 1934, the Company has duly caused this annual report to be
signed on its behalf by the undersigned, thereunto duly authorized.



                                 UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.


                                 /s/ ARVIN SCOTT
                                 ---------------
Date: December 17, 2003          Arvin Scott, Chief Executive Officer, President
                                 (Principal Executive Officer)

                                 /s/ ROBERT W. ZIMMER
                                 --------------------
                                 Robert W. Zimmer, Chief Financial Officer
                                 (Principal Financial Officer)

                                       9