<PAGE>   1
================================================================================



                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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

                                    FORM 10-Q

[X]  Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
     Exchange Act of 1934

     For the quarterly period ended March 31, 2000

                                       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 333-49011
                                               ---------

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


                       [ADVANCED ACCESSORY SYSTEMS LOGO]
                        ADVANCED ACCESSORY SYSTEMS, LLC.
             (Exact name of Registrant as specified in its Charter)


                    DELAWARE                                 13-3848156
         (State or other jurisdiction of                 (I.R.S. Employer
         incorporation or organization)                  Identification No.)


12900 HALL ROAD, SUITE 200, STERLING HEIGHTS, MI               48313
     (Address of principal executive offices)                (Zip Code)



                                 (810) 997-2900
                               (Telephone Number)


                                 NOT APPLICABLE
         (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, and (2) has been subject to such filing requirements
for the past 90 days.

         YES  [X]                                              NO

================================================================================


<PAGE>   2


                         ADVANCED ACCESSORY SYSTEMS, LLC

                                      INDEX

                                                                 Page No.


Part I.  Financial Information

     Item 1.  Financial Statements

              Consolidated Condensed Balance Sheets as of            1
                March 31, 2000 and December 31, 1999

              Consolidated Condensed Statements of Income            2
                (loss) for the Three Months Ended
                March 31, 2000 and 1999

              Consolidated Condensed Statements of                   3
                Cash Flows for the Three Months
                Ended March 31, 2000 and 1999

              Consolidated Condensed Statement of Changes            4
                in Members' Equity for the Three Months
                Ended March 31, 2000

              Notes to Consolidated Condensed Financial              5
                Statements

     Item 2.  Management's Discussion and Analysis of               11
                Financial Condition and Results of
                Operations

     Item 3.  Quantitative and Qualitative Disclosures About        15
                Market Risk

Part II.  Other Information and Signature

     Item 1.  Legal Proceedings                                     16

     Item 2.  Changes in Securities                                 16

     Item 3.  Defaults Upon Senior Securities                       16

     Item 4.  Submission of Matters to a Vote of                    16
                Security-holders

     Item 5.  Other Information                                     16

     Item 6.  Exhibits and Reports on Form 8-K                      16

     Signature                                                      17













<PAGE>   3


                          PART I. FINANCIAL INFORMATION

Item 1.  Financial Statements

                         ADVANCED ACCESSORY SYSTEMS, LLC
                      CONSOLIDATED CONDENSED BALANCE SHEETS
                   AS OF MARCH 31, 2000 AND DECEMBER 31, 1999
                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>



                                                                                   March 31,           December 31,
                                                                                     2000                  1999
<S>                                                                            <C>                  <C>
ASSETS                                                                            (Unaudited)
Current assets
       Cash                                                                     $       3,291        $        8,718
       Accounts receivable, less reserves
         of $4,717 and $4,997, respectively                                            60,204                46,918
       Inventories
         Finished goods                                                                16,855                15,523
         Work-in-process                                                                8,386                 9,871
         Raw materials                                                                 15,179                13,043
                                                                                -------------        --------------
       Total inventories                                                               40,420                38,437
       Deferred income taxes                                                            2,510                 1,804
       Other current assets                                                             5,048                 4,879
                                                                                -------------        --------------
                    Total current assets                                              111,473               100,756

Property and equipment, net                                                            58,994                59,316
Goodwill, net                                                                          80,123                80,674
Other intangible assets, net                                                            5,298                 5,729
Deferred income taxes                                                                   1,908                 1,922
Other noncurrent assets                                                                 2,806                 2,816
                                                                                -------------        --------------
                                                                                $     260,602        $      251,213
                                                                                =============        ==============

LIABILITIES AND MEMBERS' EQUITY
Current liabilities
       Current maturities of long-term debt                                     $      11,379        $       12,449
       Accounts payable                                                                33,181                26,715
       Accrued liabilities                                                             27,809                24,767
                                                                                -------------        --------------
                    Total current liabilities                                          72,369                63,931
                                                                                -------------        --------------

Noncurrent liabilities
       Deferred income taxes                                                            1,643                 1,772
       Other noncurrent liabilities                                                     4,336                 4,320
       Long-term debt, less current maturities                                        164,128               166,049
                                                                                -------------        --------------
                    Total noncurrent liabilities                                      170,107               172,141
                                                                                -------------        --------------

Mandatorily redeemable warrants                                                         4,885                 4,810
                                                                                -------------        --------------

Members' equity
  Class A Units                                                                        18,038                18,083
  Other comprehensive loss                                                             (1,122)               (1,496)
  Accumulated deficit                                                                  (3,675)               (6,256)
                                                                                -------------        --------------
                                                                                       13,241                10,331
                                                                                -------------        --------------
                                                                                $     260,602        $      251,213
                                                                                =============        ==============
</TABLE>

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




                                       1


<PAGE>   4


                         ADVANCED ACCESSORY SYSTEMS, LLC
                   CONSOLIDATED CONDENSED STATEMENTS OF INCOME
               FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999
                             (DOLLARS IN THOUSANDS)
                                   (UNAUDITED)



<TABLE>
<CAPTION>

                                                        Three Months Ended
                                                             March 31,
                                                       2000           1999


<S>                                               <C>            <C>
Net sales                                         $      84,994  $       78,035
Cost of sales                                            61,800          56,241
                                                  -------------  --------------

       Gross profit                                      23,194          21,794

Selling, administrative and
  product development expenses                           12,327          13,397
Amortization of intangible assets                           786             789
                                                  -------------  --------------

       Operating income                                  10,081           7,608
                                                  -------------  --------------

Other income (expense)
       Interest expense                                  (4,421)         (4,446)
       Foreign currency loss, net                        (3,464)         (3,973)
       Other income (expense)                               315          (2,000)
                                                  -------------  ---------------

Income (loss) before income taxes                         2,511          (2,811)
Benefit for income taxes                                  1,112             978
                                                  -------------  --------------

Net income (loss)                                 $       3,623  $       (1,833)
                                                  =============  ==============

</TABLE>




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

                                        2














<PAGE>   5


                         ADVANCED ACCESSORY SYSTEMS, LLC
                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
               FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999
                             (DOLLARS IN THOUSANDS)
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                                        Three Months Ended
                                                                              March 31,
                                                                     2000                  1999
<S>                                                             <C>                  <C>
CASH FLOWS FROM OPERATING
    ACTIVITIES:
       Net income (loss)                                         $       3,623        $       (1,833)
       Adjustments to reconcile net income (loss) to net
        cash provided by operating activities
         Depreciation and amortization                                   3,493                 3,549
         Deferred taxes                                                   (878)               (1,459)
         Foreign currency loss                                           2,898                 4,134
         Changes in assets and liabilities, net                         (6,221)               (3,462)
                                                                 -------------        --------------

         Net cash provided by operating
           activities                                                    2,915                   929
                                                                 -------------        --------------
CASH FLOWS USED FOR INVESTING ACTIVITIES:
       Acquisition of property and equipment                            (3,222)               (2,592)
       Acquisitions, net of cash acquired                               (1,515)                   --
                                                                 -------------        --------------

         Net cash used for investing activities                         (4,737)               (2,592)
                                                                 -------------        --------------

CASH FLOWS USED FOR FINANCING
    ACTIVITIES:
       Net increase in revolving loan                                    1,100                    --
       Collection on note receivable for unit purchase                      30                     9
       Payments on long-term debt                                       (4,028)               (1,060)
       Distributions to members                                         (1,042)                 (787)
                                                                 -------------        --------------

         Net cash used for financing activities                         (3,940)               (1,838)
                                                                 -------------        --------------

       Effect of exchange rate changes                                     335                   (29)
                                                                 -------------        --------------
       Net decrease in cash                                             (5,427)               (3,530)
       Cash at beginning of period                                       8,718                11,240
                                                                 -------------        --------------
       Cash at end of period                                     $       3,291        $        7,710
                                                                 =============        ==============
</TABLE>



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

                                        3







<PAGE>   6


                         ADVANCED ACCESSORY SYSTEMS, LLC
         CONSOLIDATED CONDENSED STATEMENT OF CHANGES IN MEMBERS' EQUITY
                    FOR THE THREE MONTHS ENDED MARCH 31, 2000
                             (DOLLARS IN THOUSANDS)
                                   (UNAUDITED)


<TABLE>
<CAPTION>

                                                                                Other                              Total
                                                             Class A        comprehensive     Accumulated        members'
                                                              Units             loss            deficit           equity
                                                          --------------   -------------     -------------    -------------

<S>                                                       <C>              <C>               <C>              <C>
Balance at December 31, 1999                              $      18,083    $      (1,496)    $      (6,256)   $      10,331
Collection on notes receivable for unit purchase                     30               --                --               30
Accretion of membership warrants                                    (75)              --                --              (75)
Distributions to members                                             --               --            (1,042)          (1,042)
Currency translation adjustment                                      --              374                --              374
Net income                                                           --               --             3,623            3,623
                                                          -------------    -------------     -------------    -------------
Balance at March 31, 2000                                 $      18,038    $      (1,122)    $      (3,675)   $      13,241
                                                          =============    =============     =============    =============


</TABLE>








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

                                        4





















<PAGE>   7


                         ADVANCED ACCESSORY SYSTEMS, LLC
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                             (DOLLARS IN THOUSANDS)
                                   (UNAUDITED)


1.       BASIS OF PRESENTATION

         In the opinion of the Company, the accompanying unaudited consolidated
         condensed financial statements contain all adjustments, which are
         normal and recurring in nature, necessary to present fairly its
         financial position as of March 31, 2000 and December 31, 1999 and the
         results of its operations for the three months ended March 31, 2000 and
         1999 and its cash flows for the three months ended March 31, 2000 and
         1999.

         These consolidated condensed financial statements should be read
         together with the Company's audited financial statements presented in
         the Company's Annual Report on Form 10-K for the year ended December
         31, 1999, filed with the Securities and Exchange Commission on March
         22, 2000.

2.       OTHER EXPENSE

         In February 1996 the Company commenced an action against certain
         individuals alleging breach of contract under the terms of an October
         1992 Purchase Agreement and Employment Agreement with the predecessor
         of the Company. The individuals then filed a separate lawsuit against
         the Company alleging breach of contract under the respective Purchase
         and Employment agreements. On May 7, 1999 a jury in the United States
         District Court for the Eastern District of Michigan reached a verdict
         against the company and awarded the individuals approximately $3.8
         million plus interest and reasonable attorney fees. The Company plans
         to file an appeal once a judgment, expected during the second or third
         quarter of 2000, is made by the court. In January 2000 the Company
         issued a $6,000 letter of credit benefiting the plaintiffs pending the
         resolution of the matter. During the first quarter of 1999, the Company
         increased its estimated accrual for this matter by $2.0 million which
         charge is included in other expense. No amounts have been paid as of
         March 31, 2000.

3.       COMPREHENSIVE INCOME (LOSS)

         Comprehensive income (loss) for the first quarter of 2000 and 1999 of
         $4.0 million and $(2.1) million, respectively, includes reported net
         income (loss) adjusted by the non-cash effect of changes in the
         cumulative translation adjustment.

4.       SUBSEQUENT EVENT

         One of the Company's significant OEM customers announced on May 5, 2000
         that it will be voluntarily recalling approximately 380,000 trucks to
         replace or reinforce their trailer hitches, which were supplied by the
         Company. The recall affects 1998-2000 model year vehicles built between
         January 1998 and September 1999. The Company is in the process of
         working with its customer to provide technical and other support in
         response to the recall. Management can not estimate at this time what
         the financial impact would be to the Company, if any, as a result of
         the recall.

5.       CONDENSED CONSOLIDATING INFORMATION

         On October 1, 1997, the Company and its wholly-owned subsidiary, AAS
         Capital Corporation, issued and sold $125,000 of its 9 3/4 Senior
         Subordinated Notes due 2007 ("the Notes"). The Notes are guaranteed on
         a full, unconditional and joint and several basis by all of the
         Company's direct and indirect wholly-owned domestic subsidiaries. The
         following condensed consolidating financial information presents the
         financial position, results of operations and cash flows of (i) the
         Company as parent, as if it accounted for its subsidiaries on the
         equity method, and AAS Capital Corporation as issuers; (ii) guarantor
         subsidiaries which are domestic, wholly-owned subsidiaries and include
         SportRack LLC, AAS Holdings, Inc., Valley Industries, LLC, and ValTek,
         LLC; and (iii) the non-guarantor subsidiaries which are foreign,
         wholly-owned subsidiaries and include Brink International B.V. and its
         subsidiaries, SportRack International, Inc. and its subsidiary, and
         SportRack Automotive GmbH and its subsidiaries. The guarantor and
         non-guarantor subsidiaries for the three months ended March 31, 2000
         and 1999 have been allocated a portion of certain corporate overhead
         costs on a basis consistent with each subsidiary's relative business
         activity, including interest on intercompany debt balances. Separate
         financial statements of the guarantor subsidiaries are not presented
         because management has determined that the separate financial
         statements are not material to investors. Since its formation in
         September 1997, AAS Capital Corporation has had no operations and has
         no assets or liabilities at March 31, 2000.

                                       5
<PAGE>   8
                         ADVANCED ACCESSORY SYSTEMS, LLC
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                             (DOLLARS IN THOUSANDS)
                                   (UNAUDITED)



5.       CONDENSED CONSOLIDATING INFORMATION -- (continued)

                     CONDENSED CONSOLIDATING BALANCE SHEET
                                 MARCH 31, 2000
<TABLE>
<CAPTION>

                                                                 GUARANTOR     NON-GUARANTOR     ELIMINATIONS/
                                                  ISSUERS      SUBSIDIARIES    SUBSIDIARIES       ADJUSTMENTS   CONSOLIDATED
                                                -----------  --------------    -------------     -------------  ------------
                                                                       (DOLLAR AMOUNTS IN THOUSANDS)
<S>                                            <C>          <C>                <C>              <C>            <C>

   ASSETS
   Current assets
     Cash...................................    $        --   $         475      $     2,816      $        --      $    3,291
     Accounts receivable....................             --          40,599           19,605               --          60,204
     Inventories............................             --          18,012           22,408               --          40,420
     Deferred income taxes and other
      current assets........................             58           3,912            3,588               --           7,558
                                                -----------     -----------      -----------      -----------      ----------
          Total current assets..............             58          62,998           48,417               --         111,473
                                                -----------     -----------      -----------      -----------      ----------
   Property and equipment, net..............             --          33,870           25,124               --          58,994
   Goodwill, net............................          1,055          57,789           21,279               --          80,123
   Intangible assets, net...................          4,314             200              784               --           5,298
   Deferred income taxes and other
     noncurrent assets......................             29           2,080            2,605               --           4,714
   Investment in subsidiaries...............         48,430           9,955               --          (58,385)             --
   Intercompany notes receivable............        100,040              --               --         (100,040)             --
                                               ------------     -----------      -----------      -----------      ----------
          Total Assets......................   $    153,926     $   166,892      $    98,209      $  (158,425)     $  260,602
                                               ============     ===========      ===========      ===========      ==========

   LIABILITIES AND MEMBER'S
     EQUITY
   Current liabilities
     Current maturities of long-term debt...  $          --     $        --      $    11,379      $        --      $   11,379
     Accounts payable.......................             --          23,615            9,566               --          33,181
     Accrued liabilities and deferred
       income taxes.........................          8,522           8,754           10,533               --          27,809
                                               ------------     -----------      -----------      -----------      ----------
          Total current liabilities.........          8,522          32,369           31,478               --          72,369
                                               ------------     -----------      -----------      -----------      ----------
   Deferred income taxes and other
     noncurrent liabilities.................          1,665             662            3,652               --           5,979
   Long-term debt, less current maturities..        124,606           1,100           38,422               --         164,128
   Intercompany debt........................             --          58,862           41,178         (100,040)             --
   Mandatorily redeemable warrants..........          4,885              --               --               --           4,885
   Members' equity..........................         14,248          73,899          (16,521)         (58,385)         13,241
                                               ------------     -----------      -----------      -----------      ----------
          Total liabilities and members'
          equity............................   $    153,926     $   166,892      $    98,209      $ (158,425)      $  260,602
                                               ============     ===========      ===========      ==========       ==========
</TABLE>


                                       6

<PAGE>   9
                         ADVANCED ACCESSORY SYSTEMS, LLC
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                             (DOLLARS IN THOUSANDS)
                                   (UNAUDITED)



5.       CONDENSED CONSOLIDATING INFORMATION -- (continued)

                      CONDENSED CONSOLIDATING BALANCE SHEET
                                DECEMBER 31, 1999
<TABLE>
<CAPTION>


                                                                 GUARANTOR     NON-GUARANTOR     ELIMINATIONS/
                                                  ISSUERS      SUBSIDIARIES    SUBSIDIARIES       ADJUSTMENTS   CONSOLIDATED
                                                -----------    ------------    -------------     -------------  ------------
                                                                        (DOLLAR AMOUNTS IN THOUSANDS)

<S>                                            <C>            <C>             <C>                <C>           <C>
   ASSETS
   Current assets
     Cash...................................    $        --   $       5,469      $     3,249      $        --      $    8,718
     Accounts receivable....................             --          32,087           14,831               --          46,918
     Inventories............................             --          16,361           22,076               --          38,437
     Other current assets...................
                                                         13           3,724            2,946               --           6,683
                                                -----------     -----------      -----------      -----------      ----------
          Total current assets..............             13          57,641           43,102               --         100,756
                                                -----------     -----------      -----------      -----------      ----------
   Property and equipment, net..............             --          32,014           27,302               --          59,316
   Goodwill, net............................          1,065          57,100           22,509               --          80,674
   Intangible assets, net...................          4,423             390              916               --           5,729
        Deferred income taxes and other
     noncurrent assets......................             93           1,988            2,657               --           4,738
   Investment in subsidiaries...............         43,065           9,955               --          (53,020)             --
   Intercompany notes receivable............         99,537              --               --          (99,537)             --
                                               ------------     -----------      -----------      ------------     ----------
          Total Assets......................   $    148,196     $   159,088      $    96,486      $  (152,557)     $  251,213
                                               ============     ===========      ===========      ===========      ==========

   LIABILITIES AND MEMBER'S
     EQUITY
   Current liabilities
     Current maturities of long-term debt...  $          --     $        --      $    12,449      $        --      $   12,449
     Accounts payable.......................             --          18,090            8,625               --          26,715
     Accrued liabilities and deferred
       income taxes.........................          5,524           9,231           10,012               --          24,767
                                               ------------     -----------      -----------      -----------      ----------
          Total current liabilities.........          5,524          27,321           31,086               --          63,931
                                               ------------     -----------      -----------      -----------      ----------
   Deferred income taxes and other
     noncurrent liabilities.................          1,553             608            3,931               --           6,092
   Long-term debt, less current maturities..        124,597              --           41,452               --         166,049
   Intercompany debt........................             --          64,189           35,348          (99,537)             --
   Mandatorily redeemable warrants..........          4,810              --               --               --           4,810
   Members' equity..........................         11,712          66,970          (15,331)         (53,020)         10,331
                                               ------------     -----------      -----------      -----------      ----------
          Total liabilities and members'
          equity............................   $    148,196     $   159,088      $    96,486      $ (152,557)      $  251,213
                                               ============     ===========      ===========      ==========       ==========

</TABLE>


                                       7
<PAGE>   10
                         ADVANCED ACCESSORY SYSTEMS, LLC
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                             (DOLLARS IN THOUSANDS)
                                   (UNAUDITED)



5.       CONDENSED CONSOLIDATING INFORMATION -- (continued)

                 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2000
<TABLE>
<CAPTION>

                                                                 GUARANTOR     NON-GUARANTOR     ELIMINATIONS/
                                                  ISSUERS      SUBSIDIARIES    SUBSIDIARIES       ADJUSTMENTS   CONSOLIDATED
                                                 ----------    ------------    -------------     -------------  ------------
                                                                        (DOLLAR AMOUNTS IN THOUSANDS)
<S>                                              <C>           <C>            <C>                <C>            <C>
   Net sales................................     $       --      $   59,680     $    25,314        $       --      $   84,994
   Cost of sales............................             --          44,638          17,162                --          61,800
                                                 ----------      ----------     -----------        ----------      ----------
     Gross profit...........................             --          15,042           8,152                --          23,194
   Selling, administrative and product
     development expenses...................            350           6,388           5,589                --          12,327
   Amortization of intangible assets........              9             570             207                --             786
                                                 ----------      ----------     -----------        ----------      ----------
     Operating income (loss)................           (359)          8,084           2,356                --          10,081
   Interest expense.........................          1,383           1,155           1,883                --           4,421
   Equity in income (loss) of subsidiaries            5,365              --              --            (5,365)             --
   Foreign currency (gain) loss.............             --              --           3,464                --           3,464
   Other income                                          --              --             315                --             315
                                                 ----------      ----------     -----------        ----------      ----------
   Income (loss) before income taxes........          3,623           6,929          (2,676)           (5,365)          2,511
   Benefit for income taxes.................             --              --           1,112                --           1,112
                                                 ----------      ----------     -----------        ----------      ----------
   Net income (loss)........................     $    3,623      $    6,929     $    (1,564)       $   (5,365)     $    3,623
                                                 ==========      ==========     ===========        ==========      ==========
</TABLE>



                 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
                    FOR THE THREE MONTHS ENDED MARCH 31, 1999
<TABLE>
<CAPTION>

                                                                 GUARANTOR     NON-GUARANTOR     ELIMINATIONS/
                                                  ISSUERS      SUBSIDIARIES    SUBSIDIARIES       ADJUSTMENTS   CONSOLIDATED
                                                 -----------   ------------    -------------     -------------  ------------
                                                                        (DOLLAR AMOUNTS IN THOUSANDS)
<S>                                              <C>          <C>             <C>                <C>            <C>
   Net sales................................     $       --      $   52,840     $    25,195        $       --      $   78,035
   Cost of sales............................             --          39,218          17,023                --          56,241
                                                 ----------      ----------     -----------        ----------      ----------
     Gross profit...........................             --          13,622           8,172                --          21,794
   Selling, administrative and product
     development expenses...................          1,136           6,778           5,483                --          13,397
   Amortization of intangible assets........             10             549             230                --             789
                                                 ----------      ----------     -----------        ----------      ----------
     Operating income (loss)................         (1,146)          6,295           2,459                --           7,608
   Interest expense.........................          1,707           1,130           1,609                --           4,446
   Equity in income (loss) of subsidiaries            1,064              --             --             (1,064)             --
   Foreign currency (gain) loss.............             --              --           3,973                --           3,973
   Other expense                                      2,000              --              --                --           2,000
                                                 ----------      ----------     -----------        ----------      ----------
   Income (loss) before income taxes........         (3,789)          5,165          (3,123)           (1,064)         (2,811)
   Benefit for income taxes.................             --              --             978                --             978
                                                 ----------      ----------     -----------        ----------      ----------
   Net income (loss)........................     $   (3,789)     $    5,165     $    (2,145)       $   (1,064)     $   (1,833)
                                                 ==========      ==========     ===========        ==========      ==========
</TABLE>


                                       8

<PAGE>   11
                         ADVANCED ACCESSORY SYSTEMS, LLC
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                             (DOLLARS IN THOUSANDS)
                                   (UNAUDITED)



5.       CONDENSED CONSOLIDATING INFORMATION -- (continued)

                 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2000
<TABLE>
<CAPTION>

                                                                 GUARANTOR     NON-GUARANTOR     ELIMINATIONS/
                                                    ISSUERS    SUBSIDIARIES    SUBSIDIARIES       ADJUSTMENTS   CONSOLIDATED
                                                 -----------   ------------    -------------     -------------  ------------
                                                                         (DOLLAR AMOUNTS IN THOUSANDS)
<S>                                             <C>           <C>             <C>                <C>           <C>
   Net cash provided by (used for) operating
     activities................................  $    1,515     $   3,587       $   (2,187)        $       --     $    2,915
                                                 ----------     ---------       ----------         ----------     ----------

   Cash flows from investing activities:
     Acquisition of property and
       equipment...............................          --        (2,884)            (338)                --         (3,222)
     Acquisition, net of cash acquired.........          --        (1,515)              --                 --         (1,515)
                                                 ----------     ---------       ----------         ----------     ----------
       Net cash used for investing activities..          --        (4,399)            (338)                --         (4,737)
                                                 ----------     ---------       ----------         ----------     ----------
   Cash flows from financing activities:
     Change in intercompany debt...............        (503)       (5,282)           5,785                 --             --
     Net increase in revolving loan............          --         1,100               --                 --          1,100
     Collection on note receivable for unit
       purchase................................          30            --               --                 --             30
     Repayment of debt.........................          --            --           (4,028)                --         (4,028)
     Distributions to members..................      (1,042)           --               --                            (1,042)
                                                 ----------     ---------       ----------         ----------     ----------
       Net cash provided by financing
         activities............................      (1,515)       (4,182)           1,757                 --         (3,940)
                                                 ----------     ---------       ----------         ----------     ----------

   Effect of exchange rate changes.............          --            --              335                 --            335
   Net increase (decrease) in cash.............          --        (4,994)            (433)                --         (5,427)
   Cash at beginning of period.................          --         5,469            3,249                 --          8,718
                                                 ----------     ---------       ----------         ----------     ----------
   Cash at end of period.......................  $       --     $     475       $    2,816         $       --     $    3,291
                                                 ==========     =========       ==========         ==========     ==========
</TABLE>


                                       9

<PAGE>   12
                         ADVANCED ACCESSORY SYSTEMS, LLC
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                             (DOLLARS IN THOUSANDS)
                                   (UNAUDITED)



5.       CONDENSED CONSOLIDATING INFORMATION -- (continued)

                 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
                    FOR THE THREE MONTHS ENDED MARCH 31, 1999
<TABLE>
<CAPTION>

                                                                 GUARANTOR     NON-GUARANTOR     ELIMINATIONS/
                                                    ISSUERS    SUBSIDIARIES    SUBSIDIARIES       ADJUSTMENTS   CONSOLIDATED
                                                 -----------   ------------    -------------     -------------  ------------
                                                                         (DOLLAR AMOUNTS IN THOUSANDS)
<S>                                             <C>           <C>             <C>               <C>            <C>
   Net cash provided by (used for) operating
     activities..............................    $       --     $   2,697       $   (1,768)        $       --     $      929
                                                 ----------     ---------       ----------         ----------     ----------

   Cash flows from investing activities:
     Acquisition of property and
       equipment.............................            --        (1,758)            (834)                --         (2,592)
                                                 ----------     ---------       ----------         ----------      ---------
       Net cash used for investing activities            --        (1,758)            (834)                --         (2,592)
                                                 ----------     ---------       ----------         ----------     ----------
   Cash flows from financing activities:
     Change in intercompany debt.............           778        (2,775)           2,784               (787)            --
     Collection on note receivable for unit
       purchase..............................             9            --               --                 --              9
     Repayment of debt.......................            --            --           (1,060)                --         (1,060)
     Distributions to members................          (787)         (787)              --                787           (787)
                                                 ----------     ---------       ----------         ----------     ----------
       Net cash provided by financing
         activities..........................            --        (3,562)           1,724                 --         (1,838)
                                                 ----------     ---------       ----------         ----------     ----------

   Effect of exchange rate changes...........            --            --              (29)                --            (29)
   Net increase (decrease) in cash...........            --        (2,623)            (907)                --         (3,530)
   Cash at beginning of period...............            --         5,636            5,604                 --         11,240
                                                 ----------     ---------       ----------         ----------     ----------
   Cash at end of period.....................    $       --     $   3,013       $    4,697         $       --     $    7,710
                                                 ==========     =========       ==========         ==========     ==========

</TABLE>
                                       10






<PAGE>   13


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

                         ADVANCED ACCESSORY SYSTEMS, LLC
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2000


         The following discussion of the results of operations and financial
condition of the Company should be read in conjunction with the financial
statements and notes thereto of the Company included elsewhere in this Form
10-Q. Discussions containing forward-looking statements may be found in the
material set forth below. These may include statements projecting, forecasting
or estimating Company performance and industry trends. General risks that may
impact the achievement of such forecasts include, but are not limited to:
compliance with new laws and regulations, general economic conditions in the
markets in which the Company operates, fluctuation in demand for the Company's
products, significant raw material price fluctuations, and other business
factors. Any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties. Actual events or results may
differ materially from those discussed in the forward-looking statements. All of
these forward-looking statements are based on estimates and assumptions made by
management of the Company which, although believed to be reasonable, are
inherently uncertain. The Company does not intend to update these
forward-looking statements.

GENERAL

         Chase Capital Partners and certain members of the Company's management
formed the Company in September 1995 to make strategic acquisitions of
automotive exterior accessory manufacturers and to integrate those acquisitions
into a global enterprise that would be a preferred supplier to the automotive
industry. In September 1995, the Company, through its SportRack, LLC subsidiary
("SportRack"), acquired substantially all of the net assets of the MascoTech
Accessories division of MascoTech, Inc., a North American supplier of rack
systems and accessories to the automotive original equipment manufacturers
("OEM") market and aftermarket.

         In October 1996, the Company acquired all the capital stock of Brink
B.V., a private company with limited liability incorporated under the laws of
The Netherlands and a European supplier of towing systems and accessories to the
automotive OEM market and aftermarket. In December 1996, ownership of Brink B.V.
and its subsidiaries was transferred to a newly formed subsidiary of the
Company, Brink International B.V. ("Brink").

         In August 1997, the Company formed Valley Industries, LLC to acquire
the net assets of Valley Industries, Inc. ("Valley"), a North American supplier
of towing systems and accessories to the automotive OEM market and aftermarket.

         Two smaller acquisitions were completed in July 1997 by a subsidiary of
SportRack, SportRack International, Inc. SportRack International acquired from
Bell Sports Corporation the net assets of its sportrack division, a Canadian
supplier of rack systems and accessories to the automotive aftermarket.
SportRack International also acquired the capital stock of Nomadic Sports, Inc.,
a Canadian supplier of rack systems and accessories to the automotive OEM market
and aftermarket.

         In January 1998, the Company through Brink International B.V., acquired
the net assets of the towbar segment Ellebi S.p.A., an Italian supplier of
towing systems to the automotive OEM market and aftermarket.

         In February 1998, the Company through SportRack International, Inc.,
acquired the net assets of Transfo-Rakzs, a Canadian supplier of rear hitch rack
carrying systems and related products to the automotive aftermarket.

         In February 2000, the Company through Valley, acquired the net assets
of Titan Industries, Inc. ("Titan"). Titan is a North American supplier of
trailer balls and other towing related accessories to the automotive
aftermarket.

         In each instance, the acquisition was accounted for in accordance with
the purchase method of accounting and the operating results of the acquired
company have been included in the Company's consolidated financial statements
since the date of the respective acquisition.

RESULTS OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2000 COMPARED TO THE THREE MONTHS ENDED MARCH 31,
1999.

         Net Sales. Net sales for the first quarter of 2000 were $85.0 million,
representing an increase of $7.0 million, or 8.9%, over net sales for the first
quarter of 1999. This increase resulted primarily from increased sales to OEM's
of approximately $6.7 million resulting from their increased production levels
of vehicles over the prior year. This increase is net of a decreased of
approximately $2.6 million related to the effect of declining exchange rates
between the U.S. Dollar and the currencies used by the Company's foreign
subsidiaries.

                                       11
<PAGE>   14

                         ADVANCED ACCESSORY SYSTEMS, LLC
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2000


         Gross Profit. Gross profit for the first quarter of 2000 was $23.1
million, representing an increase of $1.4 million, or 6.4%, over the gross
profit for the first quarter of 1999. This increase resulted from the increase
in net sales offset by a decrease in the gross margin percentage. Gross profit
as a percentage of net sales was 27.3% in the first quarter of 2000 compared to
27.9% in the first quarter of 1999. The decrease in the gross margin percentage
is attributable to increased material costs resulting from increased outsoucing
of component parts for hitches supplied to the OEMs and the mix of products sold
being weighted more toward lower margin products than in the prior year.

         Selling, administrative and product development expenses. Selling,
administrative and product development expenses for the first quarter of 2000
were $12.3 million, representing a decrease of $1.1 million, or 8.0%, over the
selling, administrative and product development expenses for the first quarter
of 1999. Selling, administrative and product development expenses as a
percentage of net sales decreased to 14.5% in the first quarter of 2000 from
17.2% in the first quarter of 1999. This decrease is primarily attributable to
lower corporate expenses including severance compensation recorded during the
first quarter of 1999 related to the departure of the Company's former President
and Chief Executive Officer.

         Operating income. Operating income for the first quarter of 2000 was
$10.1 million, an increase of $2.5 million, or 32.8%, over operating income for
the first quarter of 1999 reflecting the increase in gross profit and decrease
in selling, administrative and product development expenses. Operating income as
a percentage of net sales increased to 11.9% in the first quarter of 2000 from
9.7% in the first quarter of 1999.

         Interest expense. Interest expense for the first quarter of 1999 was
$4.4 million, which was equal to interest expense for the first quarter of 1999.
In the first quarter of 2000, lower interest expense resulting form reduced
average borrowings was offset by higher interest rates charged on the Company's
variable rate indebtedness.

         Foreign currency loss. Foreign currency loss in the first quarter of
2000 was $3.5 million, compared to a foreign currency loss of $4.0 million in
the first quarter of 1999. The Company's foreign currency loss is primarily
related to the debt of Brink which has indebtedness denominated in U.S. Dollars
including intercompany debt and substantially all outstanding loans under the
Company's Second Amended and Restated Credit Agreement. During the first quarter
of 2000 and the first quarter of 1999 the U.S. Dollar strengthened significantly
in relation to the Dutch Guilder, the functional currency of Brink. At December
31, 1999, the exchange rate of the Dutch Guilder to the U.S. Dollar was 2.19:1,
whereas at March 31, 2000 the exchange rate was 2.30:1, or a 5.0% decline in the
relative value of the Dutch Guilder. At December 31, 1998, the exchange rate of
the Dutch Guilder to the U.S. Dollar was 1.88:1, whereas at March 31, 1999 the
exchange rate was 2.04:1, or an 8.6% decline in the relative value of the Dutch
Guilder during the quarter.

         Other expense. In February 1996 the Company commenced an action against
certain individuals alleging breach of contract under the terms of an October
1992 Purchase Agreement and Employment Agreement with the predecessor of the
Company. The individuals then filed a separate lawsuit against the Company
alleging breach of contract under the respective Purchase and Employment
agreements. On May 7, 1999 a jury in the United States District Court for the
Eastern District of Michigan reached a verdict against the Company and awarded
the individuals approximately $3.8 million plus interest and reasonable attorney
fees. The Company plans to file an appeal once a judgment, expected during the
second or third quarter, is made by the count. During the first quarter of 1999,
the Company increased its estimated accrual for this matter by $2.0 million
which charge is included in other expense. No amounts have been paid as of March
31, 2000.

         Benefit for income taxes. The Company and certain of its domestic
subsidiaries have elected to be taxed as limited liability companies for federal
income tax purposes. As a result of this election, the Company's domestic
taxable income accrues to the individual members. Certain of the Company's
domestic subsidiaries and foreign subsidiaries are subject to income taxes in
their respective jurisdictions. During the first quarter of 2000, the Company
had a loss before income taxes for its taxable subsidiaries totaling $2.7
million and recorded a benefit for income taxes of $1.1 million. The effective
tax rate differs from the U.S. federal income tax rate primarily due to changes
in valuation allowances on the deferred tax assets of SportRack International
recorded during 2000 and differences in the tax rates of foreign countries.
During the first quarter of 1999, the Company had a loss before income taxes for
its taxable subsidiaries totaling $3.1 million and recorded a benefit for income
taxes of $978,000.

         Net income (loss). Net income for the first quarter of 2000 was $3.6
million, as compared to a net loss of $(1.8) million in the first quarter of
1999, a change of $5.5 million. The change in net income (loss) is primarily
attributable increased operating income and decrease in other expenses recorded
in the first quarter of 2000.

                                       12
<PAGE>   15
                         ADVANCED ACCESSORY SYSTEMS, LLC
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2000

LIQUITY AND CAPITAL RESOURCES

         The Company's principal liquidity requirements are to service its debt
and meet its working capital and capital expenditure needs. The Company's
indebtedness at March 31, 2000 was $175.5 million including current maturities
of $11.4 million. The Company expects to be able to meet its liquidity
requirements through cash provided by operations and through borrowings
available under the Second Amended and Restated Credit Agreement ("U.S. Credit
Facility").

WORKING CAPITAL AND CASH FLOWS

         Working capital and key elements of the consolidated statement of cash
flows are:
<TABLE>
<CAPTION>

                                                                MARCH 31,     DECEMBER 31,
                                                                  2000           1999
                                                                ---------     ------------
                                                                      (IN THOUSANDS)

<S>                                                             <C>           <C>
  Working Capital........................................       $ 39,104       $ 36,825

<CAPTION>
                                                                      FIRST QUARTER
                                                                  2000           1999
                                                                ---------     ------------
                                                                     (IN THOUSANDS)

<S>                                                            <C>           <C>
  Cash flows provided by  operating activities...........       $  2,915       $    929

  Cash flows (used for) investing activities.............       $ (4,737)      $ (2,592)

  Cash flows (used for) financing activities.............       $ (3,940)      $ (1,838)
</TABLE>

Working capital

         Working capital increased by $2.3 million to $39.1 million at March 31,
2000 from $36.8 million at December 31, 1999 due to a increases in accounts
receivable and inventory of $13.7 million and $2.7 million, respectively, and a
decrease in the current portion of long term debt of $1.1 million. These were
offset by increases in accounts payable and accrued liabilities of $8.2 million
and $2.1 million, respectively, and a $5.4 million decrease in cash. Increases
in accounts receivable and inventory were attributable to increased sales levels
in the first quarter of 2000 as compared with the fourth quarter of 1999.
Increases in accounts payable and accrued liabilities during the quarter
reflected increased purchasing activities to support the increased sales volume.

         Cash decreased by $5.4 million to $3.3 million at March 31, 2000 from
$8.7 million at December 31, 1999 primarily due to cash used for investing and
financing activities of $4.7 million and $3.9 million, respectively, partially
offset by cash provided by operating activities of $2.9 million. Accounts
payable increased primarily due to increased raw material purchases during the
first quarter of 2000 as compared with the fourth quarter of 1999 to support
higher sales levels. Differences in sales levels between the two consecutive
quarters are partly due to seasonal cycles. Accrued liabilities increased as a
result increase of $3.0 million in accrued interest for the Company's Notes as
compared with amounts recorded as of December 31, 1999. The current portion of
long term debt decreased as two scheduled payments under the Acquisition
Revolving Note became due in the first quarter of 2000.

                                       13

<PAGE>   16
                         ADVANCED ACCESSORY SYSTEMS, LLC
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2000


Operating Activities

         Cash flow provided by operating activities for the first quarter of
2000 was $2.9 million, compared to $929,000 in the first quarter of 1999. Cash
flow for the first quarter of 2000 increased primarily due to greater operating
income during the first quarter of 2000 compared with the first quarter of 1999.

Investing Activities

         During the first quarter of 2000 and 1999, investing cash flows include
acquisitions of property and equipment of $3.2 million and $2.6 million,
respectively and were primarily for the expansion of capacity, productivity and
process improvements and maintenance. The Company's ability to make capital
expenditures is subject to restrictions in the U.S. Credit Facility, including a
maximum of $12.5 million of capital expenditures annually.

         Investing cash flows for the first quarter of 2000 also included $1.5
million paid to acquire the net assets of Titan Industries, Inc. on February 22,
2000.

Financing Activities

         During the first quarter of 2000 and 1999, financing cash flows
included scheduled payments of principal on the Company's term indebtedness of
$4.0 million and $1.1 million, respectively. Distributions to members,
representing amounts sufficient to meet the tax liability on the Company's
domestic taxable income which accrues to individual members, were $1.0 million
for the first quarter of 2000 and $787,000 during the first quarter of 1999.
Financing cash flows during the first quarter of 1999 also included net
borrowings under the company's revolving loans of $1.1 million. No revolving
loans were outstanding at either the beginning or end of the first quarter of
1999.

DEBT AND CREDIT SOURCES

         The Company's indebtedness was $175.5 million and $178.5 million at
March 31, 2000 and December 31, 1999, respectively. The Company expects that its
primary sources of cash will be from operating activities and borrowings under
its revolving credit facilities. As of March 31, 2000, the Company had
borrowings under the revolving credit facilities totaling $1.1 million and had
$17.9 million of available borrowing capacity. Borrowing availability was
reduced by a $6.0 million outstanding letter of credit issued to benefit
plaintiffs in a lawsuit against the Company. See "Managements Discussion and
Analysis" and the "Notes to the Financial Statements" for further discussion
regarding this lawsuit. As of March 31, 2000, the Company was in compliance with
the various covenants under the debt agreements pursuant to which it has
borrowed or may borrow money and believes the Company will remain in compliance
with such covenants through the period ending March 31, 2001. Management
believes that, based on current and expected levels of operations, cash flows
from operations and borrowings under the Revolving Credit Facilities will be
sufficient to fund its debt service requirements, working capital needs, and
capital expenditures for the foreseeable future, although no assurances can be
given in this regard.

         The Company's ability to satisfy its debt obligations will depend upon
its future operating performance, which will be affected by prevailing economic
conditions and financial, business, and other factors, certain of which are
beyond its control, as well as the availability of revolving credit borrowings
under its current or successor credit facilities. The Company anticipates that,
based on current and expected levels of operations, its operating cash flow,
together with borrowings under the U.S. Credit Facility and the Canadian Credit
Facility, should be sufficient to meet its debt service, working capital and
capital expenditure requirements for the foreseeable future, although no
assurances can be given in this regard, including as to the ability to increase
revenues or profit margins. If the Company is unable to service its
indebtedness, it will be forced to take actions such as reducing or delaying
acquisitions and/or capital expenditures, selling assets, restructuring or
refinancing its indebtedness, or seeking additional equity capital. There is no
assurance that any of these remedies can be effected on satisfactory terms, if
at all, including, whether, and on what terms, the Company could raise equity
capital.


                                       14
<PAGE>   17
                         ADVANCED ACCESSORY SYSTEMS, LLC
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2000


    The Company conducts operations in several foreign countries including
Canada, The Netherlands, Denmark, the United Kingdom, Sweden, France, Germany,
Poland, Spain and, Italy. Net sales from international operations during the
first quarter 2000 were approximately $25.3 million, or 29.8% of the Company's
net sales. At March 31, 2000, assets associated with these operations were
approximately 37.7% of total assets, and the Company had indebtedness
denominated in currencies other than the U.S. Dollar of approximately $9.7
million.

    The Company's international operations may be subject to volatility because
of currency fluctuations, inflation and changes in political and economic
conditions in these countries. Most of the revenues and costs and expenses of
the Company's operations in these countries are denominated in the local
currencies. The financial position and results of operations of the Company's
foreign subsidiaries are measured using the local currency as the functional
currency. Certain of the Company's foreign subsidiaries have debt denominated in
currencies other than their functional currency. As the exchange rates between
the currency of the debt and the subsidiaries functional currency change the
Company is subject to foreign currency gains and losses.

    The Company may periodically use foreign currency forward option contracts
to offset the effects of exchange rate fluctuations on cash flows denominated in
foreign currencies. The Company has no outstanding foreign currency forward
options at March 31, 2000 and does not use derivative financial instruments for
trading or speculative purposes.


NEW ACCOUNTING PRONOUNCEMENTS

    In June 1998, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 133, "Accounting for Derivative Instruments
and Hedging Activities"("FAS 133"). The statement is effective for fiscal years
beginning after June 15, 1999. The Company plans to adopt this statement at the
beginning of fiscal 2000. The Company is completing an analysis of FAS 133 which
is not expected to have a material impact on the Company's results of
operations.

    In September 1999, the Emerging Issues Task Force ("EITF") issued Issue No.
99-5, "Accounting for Pre-Production Costs Related to Long-Term Supply
Arrangements". EITF Issue No. 99-5 will require the company to expense design
and development costs related to long term supply arrangements as incurred
unless the customer contractually guarantees reimbursement and capitalize molds,
tools and dies for which title is held by the supplier, subject to an impairment
test. Additionally, molds, tools and dies for which title is held by the
customer are to be expensed as incurred unless the long term supply arrangement
explicitly provides the suppler with the non-cancelable right to use such molds,
tools and dies during the course of the supply arrangement. This pronouncement
is effective on a prospective basis for costs incurred after December 31, 1999.
The Company has adopted the issue for the first quarter of 2000 which has not
had a material impact on the Company's results of operations.

SUBSEQUENT EVENT

    One of the Company's significant OEM customers announced on May 5, 2000 that
it will be voluntarily recalling approximately 380,000 trucks to replace or
reinforce their trailer hitches, which were supplied by the Company. The recall
affects 1998-2000 model year vehicles built between January 1998 and September
1999. The Company is in the process of working with its customer to provide
technical and other support in response to the recall. Management can not
estimate at this time what the financial impact would be to the Company, if
any, as a result of the recall.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

         Not Applicable





                                       15



<PAGE>   18


                         ADVANCED ACCESSORY SYSTEMS, LLC



                    PART II. OTHER INFORMATION AND SIGNATURE

Item  1.  Legal Proceedings

          See "Note 2" of the Company's "Notes to Consolidated Condensed
          Financial Statements"

Item  2.  Changes in Securities

          None

Item  3.  Defaults Upon Senior Securities

          None

Item  4.  Submission of Matters to a Vote of Security-holders

          None

Items 5. Other Information

         None

Item  6.  Exhibits and Reports on Form 8-K

          (a)      Exhibits

              EXHIBIT NUMBER                              DESCRIPTION
              --------------                              -----------
                    27                              Financial Data Schedule

          (b)      Reports on Form 8-K


          None



                                       16
<PAGE>   19


                         ADVANCED ACCESSORY SYSTEMS, LLC

                                    SIGNATURE


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




                                    ADVANCED ACCESSORY SYSTEMS, LLC
                                    (Registrant)




Date:      May 9, 2000              /s/ BARRY G. STEELE
                                    --------------------------------------------
                                    Barry G. Steele
                                    Corporate Controller
                                    (chief accounting officer
                                    and authorized signatory)








                                       17



























<PAGE>   20
                                 Exhibit Index
                                 -------------

<TABLE>
<CAPTION>
Exhibit No.                 Description
-----------                 -----------
<S>                         <C>
    27                      Financial Data Schedule


</TABLE>