<PAGE>


                                      FORM 10-Q
                                           
                          SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C. 20549
                                           
                            ------------------------------
                                           
                 [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                        OF THE SECURITIES EXCHANGE ACT OF 1934
                                           
                    For the quarterly period ended March 31, 1997
                                           
                                          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 0-21139
                                           
                            DURA AUTOMOTIVE SYSTEMS, INC.
                                           
                (Exact name of Registrant as specified in its charter)
                                           
                           DELAWARE                  38-3185711
               (State or other jurisdiction of    (I.R.S. Employer
               incorporation or organization)     Identification No.)
                       4508 IDS CENTER                  55402
                   MINNEAPOLIS, MINNESOTA             (Zip Code)
         (Address of principal executive offices)

                                    (612) 342-2311
                 (Registrant's telephone number, including area code)
                                           
                                    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 (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 
                  ------   -----
The number of shares outstanding of the Registrant's Class A Common Stock, par
value $.01 per share, at April 15, 1997 was 3,825,756 shares.  The number of
shares outstanding of the Registrant's Class B Common Stock, par value $.01 per
share, at April 15, 1997 was 4,976,254 shares.

<PAGE>

ITEM 1 - FINANCIAL INFORMATION

              DURA AUTOMOTIVE SYSTEMS, INC. AND SUBSIDIARIES

              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

         (AMOUNTS IN THOUSANDS EXCEPT PER SHARE AMOUNTS - UNAUDITED)

<TABLE>
<CAPTION>

                                                 Three Months Ended March 31,
                                                 -------------------------
                                                    1997           1996
                                                 -----------   -----------
                                                          (Note 4)

<S>                                              <C>            <C>
Revenues                                          $ 107,367     $  59,303 

Cost of sales                                        91,453        51,841 
                                                 -----------   -----------

  Gross profit                                       15,914         7,462 

Selling, general and administrative expenses          7,228         3,864 

Amortization expense                                    883           262 
                                                 -----------   -----------

  Operating income                                    7,803         3,336 

Interest expense, net                                 1,896         1,089 
                                                 -----------   ----------
  Income-before provision for income taxes            5,907         2,247 

Provision for income taxes                            2,363           900 
                                                 -----------   ----------
  Net income                                      $   3,544     $   1,347 
                                                 -----------   -----------
                                                 -----------   -----------
  Net income per common and common
    equivalent share                              $    0.40     $    0.27 
                                                 -----------   -----------
                                                 -----------   -----------
  Weighted average common and common
    equivalent shares outstanding                     8,856         5,029 
                                                 -----------   -----------
                                                 -----------   -----------

</TABLE>
                        The accompanying notes are an integral
                   part of these condensed consolidated statements.

                                          -2-

<PAGE>

                    DURA AUTOMOTIVE SYSTEMS, INC. AND SUBSIDIARIES

                        CONDENSED CONSOLIDATED BALANCE SHEETS

                                (AMOUNTS IN THOUSANDS)

<TABLE>
<CAPTION>

                                                      March 31,   December 31,
          Assets                                        1997           1996
----------------------------------------            -----------   ----------
                                                    (unaudited)
<S>                                                 <C>           <C>
Current assets:
   Cash and cash equivalents                        $    6,027    $    1,667 
   Accounts receivable, net                             59,228        49,490 
   Inventories                                          26,394        18,093 
   Other current assets                                 17,375        14,678 
                                                    ----------    -----------

      Total current assets                             109,024        83,928 

Property, plant and equipment, net                      61,831        47,347 

Goodwill and other assets, net                         133,693       114,854 
                                                    ----------    -----------

                                                    $  304,548    $  246,129 
                                                    ----------    -----------
                                                    ----------    -----------

Liabilities and Stockholders' Investment
----------------------------------------
Current liabilities:
   Current maturities of long-term debt             $       72    $       80 
   Accounts payable                                     37,573        30,230 
   Accrued liabilities                                  28,467        26,090 
                                                    -----------   -----------

      Total current liabilities                         66,112        56,400 

Long-term debt, net of current maturities              115,202        77,376 
Other noncurrent liabilities                            32,191        24,986 
                                                    -----------   -----------

Stockholders' investment:
   Preferred stock                                          --            -- 
   Common stock - Class A                                   38            38 
   Common stock - Class B                                   50            50 
   Additional paid-in capital                           63,188        63,061 
   Retained earnings                                    27,930        24,386 
   Subscriptions receivable                               (163)         (168)
                                                    -----------   -----------

      Total stockholders' investment                    91,043        87,367 
                                                    -----------   -----------

                                                    $  304,548    $  246,129 
                                                    -----------   -----------
                                                    -----------   -----------
</TABLE>

                  The accompanying notes are an integral
           part of these condensed consolidated balance sheets.

                                          -3-

<PAGE>

                    DURA AUTOMOTIVE SYSTEMS, INC. AND SUBSIDIARIES

                   CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                        (AMOUNTS IN THOUSANDS - UNAUDITED)

<TABLE>
<CAPTION>

                                                    Three Months Ended March 31,
                                                    ----------------------------
                                                         1997       1996
                                                       ---------   ---------
<S>                                                     <C>        <C>
OPERATING ACTIVITIES:
  Net income                                            $  3,544   $  1,347 
  Adjustments to reconcile net income to
    net cash provided by operating activities -
      Depreciation and amortization                        2,905      1,589 
      Deferred income tax provision                          -          494 
  Changes in other operating items                           836        (12)
                                                       ---------   ---------

    Net cash provided by operating activities              7,285      3,418 
                                                       ---------   ---------

INVESTING ACTIVITIES:
  Acquisitions, net of cash acquired                     (18,610)       -   
  Capital expenditures, net                               (1,965)    (1,446)
  Other, net                                                 -         (233)
                                                       ---------   ---------

    Net cash used in investing activities                (20,575)    (1,679)
                                                       ---------   ---------

FINANCING ACTIVITIES:
  Borrowings under revolving credit facility              80,250     24,250 
  Repayment of revolving credit facility                 (64,000)   (21,500)
  Borrowings of long-term debt                             1,292        -   
  Repayment of long-term debt                                (18)    (2,414)
  Other, net                                                 127          4 
                                                       ---------   ---------

    Net cash provided by financing activities             17,651        340 
                                                       ---------   ---------

NET CHANGE IN CASH AND CASH EQUIVALENTS                    4,360      2,079 

CASH AND CASH EQUIVALENTS:
  Beginning of period                                      1,667      1,732 
                                                       ---------   ---------

  End of period                                         $  6,027   $  3,811 
                                                       ---------   ---------
                                                       ---------   ---------

</TABLE>
                         The accompanying notes are an integral
                    part of these condensed consolidated statements.

                                          -4-

<PAGE>

                    DURA AUTOMOTIVE SYSTEMS, INC. AND SUBSIDIARIES
                 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                     (UNAUDITED)
                                           

1.  The accompanying condensed consolidated financial statements have been 
    prepared by Dura Automotive Systems, Inc. (the "Company"), without audit, 
    pursuant to the rules and regulations of the Securities and Exchange 
    Commission. The information furnished in the condensed consolidated 
    financial statements includes normal recurring adjustments and reflects 
    all adjustments which are, in the opinion of management, necessary for a 
    fair presentation of such financial statements.  Certain information and 
    footnote disclosures normally included in financial statements prepared 
    in accordance with generally accepted accounting principles have been 
    condensed or omitted pursuant to such rules and regulations.  Although 
    the Company believes that the disclosures are adequate to make the 
    information presented not misleading, it is suggested that these 
    condensed consolidated financial statements be read in conjunction with 
    the audited financial statements and the notes thereto included in the 
    Company's 1996 Annual Report to Stockholders.

    Revenues and operating results for the three months ended March 31, 1997 
    are not necessarily indicative of the results to be expected for the full 
    year.

2.  On August 14, 1996, the Company completed an initial public offering of 
    3,795,000 shares of its Class A common stock at $14.50 per share (the 
    "Offering").  The Company received net proceeds of approximately $50 
    million from the Offering.  Net proceeds from the Offering were used to 
    repay certain outstanding indebtedness.  Immediately prior to the 
    completion of the Offering, the Company's board of directors and 
    stockholders approved an Amended and Restated Certificate of 
    Incorporation and a recapitalization pursuant to which the outstanding 
    shares of the Company's Class A, B and C common stock were exchanged for 
    4,998,254 shares in the aggregate of the Company's new Class B common 
    stock (out of a total of 10,000,000 shares of Class B common stock 
    authorized for issuance under the Amended and Restated Certificate of 
    Incorporation).  Immediately after the consummation of the 
    recapitalization and the Offering, the Company had outstanding 8,793,254 
    shares of common stock.  In addition, the Company has options outstanding 
    to purchase 32,045 shares of Class B common stock at an exercise price of 
    $1.45 per share.  The accompanying unaudited condensed consolidated 
    financial statements have been retroactively restated to give effect to 
    the recapitalization as if it had occurred at the beginning of the 
    earliest period presented. 

                                    -5-

<PAGE>

3.  Inventories consisted of the following (in thousands):

<TABLE>
<CAPTION>
                          Mar. 31, 1997    Dec. 31, 1996
                          -------------    -------------
      <S>                 <C>              <C>
      Raw materials           $  12,275         $  9,384 
      Work in process            10,014            4,767 
      Finished goods              4,105            3,942 
                          -------------    -------------
                              $  26,394         $ 18,093 
                          -------------    -------------
                          -------------    -------------    
</TABLE>

4.  In December 1996, the Company acquired all of the outstanding common 
    stock of KPI Automotive Group (KPI) from Sparton Corporation for 
    approximately $78.8 million in cash.  KPI manufactures shifter systems, 
    parking brake mechanisms, brake pedals, underbody spare tire carriers and 
    airbag components for the North American automotive industry from 
    facilities in Indiana and Michigan.  The acquisition was financed with 
    proceeds from borrowings under the Company's bank credit agreement.

    In January 1997, the Company acquired all of the outstanding common stock 
    of the VOFA Group (VOFA) for approximately $38 million in cash and 
    assumed indebtedness.  The purchase was financed with borrowings under 
    the Company's bank credit agreement.  The Company will also make 
    additional payments of up to approximately $6 million if certain 
    operating targets are achieved by VOFA in the first three years following 
    the acquisition.  VOFA manufactures shifter cables, brake cables and 
    other light duty cables for the European automotive and industrial 
    markets from facilities in Dusseldorf, Gehren and Daun, Germany and 
    Barcelona, Spain.

    The accompanying unaudited consolidated pro forma results of operations 
    for the three months ended March 31, 1996 give effect to the Offering and 
    the acquisitions of KPI and VOFA as if they were completed at the 
    beginning of the period.  The unaudited pro forma financial information 
    does not purport to represent what the Company's results of operations 
    would actually have been if such transactions had occurred at such date 
    or to project the Company's results of future operations (in thousands, 
    except per share data):

                                     -6-

<PAGE>

<TABLE>
<CAPTION>

                                                Three Months
                                                   Ended
                                               March 31, 1996
                                               --------------
             <S>                               <C>
             Revenues                             $  100,771 
                                               --------------
                                               --------------

             Operating income                     $    6,458 
                                               --------------
                                               --------------

             Net income                           $    2,551 
                                               --------------
                                               --------------

             Weighted average common
               and common equivalent
               shares outstanding                      8,824 
                                               --------------
                                               --------------

             Net income per common
               and common equivalent 
               share                              $     0.29 
                                               --------------
                                               --------------

</TABLE>

5.  Long-term debt consisted of the following (in thousands):

<TABLE>
                                                      March 31,     Dec. 31,
                                                        1997          1996
                                                    ----------     ----------
        <S>                                         <C>            <C>
        Revolving credit facility                   $  114,841     $  77,000 
        Other                                              433           456 
                                                    ----------     ----------
                                                       115,274        77,456 
        Less-current maturities                            (72)          (80)
                                                    ----------     ----------

                                                    $  115,202     $  77,376 
                                                    ----------     ----------
                                                    ----------     ----------
</TABLE>

    The Company's bank credit agreement, as amended, consists of a revolving 
    credit facility with a committed amount of $120 million, is 
    collateralized by substantially all assets of the Company, matures in 
    December 2001 and bears interest at the lender's prevailing reference 
    rate plus .5% or LIBOR plus 1% minus the Eurocurrency Reserve Percentage, 
    at the discretion of the Company. The agreement also provides the Company 
    with the ability to borrow in foreign currencies up to an amount 
    equivalent to $30 million.  The bank credit agreement requires the 
    Company to pay a facility fee on the commitment amount of .25% and 
    contains various restrictive covenants, which, among other matters, 
    require the Company to maintain certain financial ratios, including 
    minimum liquidity and interest coverage.  The bank credit agreement also 
    limits additional indebtedness, investments, rental obligations and cash 
    dividends.  The Company was in compliance with all such covenants at 
    March 31, 1997.  In addition, the Company has outstanding letters of 
    credit in the amount of $1.7 million expiring through October 1997.

                                  -7-

<PAGE>

6.  During March 1997, the Financial Accounting Standards Board released 
    Statement of Financial Accounting Standards No. 128 ("SFAS 128"), 
    "Earnings per Share", which requires the disclosure of basic earnings per 
    share and diluted earnings per share.  The Company expects to adopt SFAS 
    128 effective December 31, 1997 and anticipates it will not have a 
    material impact on previously reported earnings per share.

7.  Supplemental cash flow information (in thousands):

<TABLE>
<CAPTION>
                                  Three Months Ended March 31,
                                  ----------------------------
                                      1997            1996
                                  ------------    ------------
         <S>                      <C>             <C>
         Cash paid for -
           Interest                   $1,273         $1,218 
           Income taxes                  275            250

</TABLE>

                                          -8-

<PAGE>

ITEM 2:  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

COMPARISON OF THE THREE MONTHS ENDED MARCH 31, 1997 TO THE THREE MONTHS ENDED
MARCH 31, 1996

REVENUES -- Revenues for the three months ended March 31, 1997 increased by
$48.1 million, or 81%, to $107.4 million from $59.3 million for the three months
ended March 31, 1996.  Approximately $44.2 million of the increase in revenues
relates to the acquisitions of KPI Automotive Group (KPI) in December 1996 and
the VOFA Group (VOFA) in January 1997.  The remaining increase is due to new
business awarded to the Company.

COST OF SALES -- Cost of sales for the three months ended March 31, 1997
increased by $39.7 million, or 76.6%, to $91.5 million from $51.8 million for
the three months ended March 31, 1996.  Cost of sales as a percentage of
revenues for the three months ended March 31, 1997 was 85.2% compared to 87.4%
for the three months ended March 31, 1996.  The increase in gross margin was the
result of higher margins on new business, continued cost reduction efforts,
including cellular manufacturing and plant consolidation, and the initial
effects of cost reduction opportunities at KPI.

S, G & A EXPENSES -- Selling, general and administrative expenses increased by
$3.3 million, or 84.6%, to $7.2 million for the three months ended March 31,
1997 from $3.9 million for the three months ended March 31, 1996.  The increase
was due to increased support for worldwide engineering and marketing efforts and
increased costs related to the acquisitions of KPI and VOFA partially offset by
initial consolidation opportunities at KPI.  As a percentage of revenues,
selling, general and administrative expenses were 6.7% for the three months
ended March 31, 1997 compared to 6.5% for the three months ended March 31, 1996.

INTEREST EXPENSE -- Interest expense for the three months ended March 31, 1997
was $1.9 million compared to $1.1 million for the three months ended March 31,
1996.  The increase was due principally to borrowings incurred related to the
acquisitions of KPI and VOFA.

INCOME TAXES -- The effective income tax rate was 40.0% for the three months
ended March 31, 1997 and 40.1% for the three months ended March 31, 1996.  The
effective rates differed from the statutory rates primarily as a result of state
taxes and non-deductible goodwill amortization.

LIQUIDITY AND CAPITAL RESOURCES

On August 14, 1996, the Company completed an initial public offering of
3,795,000 shares of its Class A common stock at a price of $14.50 per share. 
The Company realized net proceeds of approximately $50 million from this
offering.

The Company's bank credit agreement consists of a $120 million revolving credit
facility which expires in December 2001.  The agreement also provides the
Company with the ability to borrow in foreign currencies up to an amount
equivalent to $30 million. As of March 31, 1997, there was 

                                        -9-

<PAGE>

a total of $114.8 million outstanding under this revolving credit facility.  
The bank credit agreement requires the Company to pay a facility fee on the 
commitment amount of .25% and contains various restrictive covenants, which, 
among other matters, require the Company to maintain certain financial 
ratios, including minimum liquidity and interest coverage.  The bank credit 
agreement also limits additional indebtedness, investments, rental 
obligations and cash dividends. The Company was in compliance with all such 
covenants at March 31, 1997.  In addition, the Company has outstanding 
letters of credit in the amount of $1.7 million expiring through October 1997.

In December 1996, the Company acquired all of the outstanding common stock of
KPI from Sparton Corporation for approximately $78.8 million in cash.  KPI
manufactures shifter systems, parking brake mechanisms, brake pedals, underbody
spare tire carriers and airbag components for the North American automotive
industry from facilities in Indiana and Michigan.  The acquisition was financed
with proceeds from borrowings under the Company's bank credit agreement.

In January 1997, the Company acquired all of the outstanding common stock of the
VOFA Group (VOFA) for approximately $38 million in cash and assumed
indebtedness.  The Company will also make additional payments of up to
approximately $6 million if certain operating targets are achieved by VOFA in
the first three years following the acquisition.  VOFA manufactures shifter
cables, brake cables and other light duty cables for the European automotive and
industrial markets from facilities in Dusseldorf, Gehren and Daun, Germany and
Barcelona, Spain.

The Company's principal source of funds has been, and is anticipated to be, its
cash flows from operations.  During the three months ended March 31, 1997, the
Company generated cash from operations of $6.4 million before the effects of
changes in working capital compared to $2.9 million in 1996.  The cash generated
from operations was used to fund capital expenditures of approximately $2
million and to partially finance the acquisitions referred to above.

The Company estimates that it will fund approximately $13 million in capital
expenditures for the remaining months of 1997.  These capital expenditures will
be used primarily for the purchase of machinery and equipment to support new
business awards, as well as to finance continued cost reduction efforts.

The Company believes that funds available under its bank credit agreement,
together with funds generated by the Company's operations, will provide the
Company with sufficient liquidity and capital resources for working capital,
capital expenditures and other needs.  However, any additional significant
acquisitions may require additional debt or equity financing.  The Company
believes additional financing will be available from bank lenders, through the
issuance of public or private debt securities or through additional offerings of
equity securities.

QUARTERLY RESULTS OF OPERATIONS AND SEASONALITY

The Company typically experiences decreased revenues and operating income during
the third calendar quarter of each year due to production shutdowns at the
automotive manufacturers for model changeovers and vacations.

                                         -10-

<PAGE>

EFFECTS OF INFLATION

Inflation generally affects the Company by increasing the interest expense of
floating rate indebtedness and by increasing the cost of labor, equipment and
raw materials.  Management believes that inflation has had an effect on the
Company's business over the past 18 months due to rising labor costs and raw
material costs, primarily steel, although at a rate below the producer price
index.  Although certain of the Company's customer contracts provide that
increases in the Company's cost of raw materials in certain circumstances may be
passed through to its customers, prevailing industry practices have not allowed
the Company to pass such costs on to its customers.

                                -11-

<PAGE>

                             PART II.  OTHER INFORMATION
                                           
                    DURA AUTOMOTIVE SYSTEMS, INC. AND SUBSIDIARIES
                                           

Item 1.  Legal Proceedings:

    In March 1997, the Company was involved in settling a lawsuit alleging a 
wrongful death as the result of injuries purportedly caused by a 
defectively-designed manual release for an emergency brake on a 1990 Cadillac 
Fleetwood. This lawsuit was previously disclosed in the Company's 1996 Annual 
Report on Form 10-K and prior filings with the Securities and Exchange 
Commission.  The terms of the settlement are confidential.  The Company's 
share of the settlement, which has been paid on behalf of the Company by its 
insurance carrier, after taking into account the deductible, is not material 
to the Company.

Item 2.  Change in Securities:

    None

Item 3.  Defaults Upon Senior Securities:

    None

Item 4.  Submission of Matters to a Vote of Security Holders:

    None

Item 5.  Other Information:

    None

Item 6.  Exhibits and Reports on Form 8-K:
                                                                      Sequential
                                                                     Page Number
    (a)  Exhibits:                                                   -----------

         11   Statements of Computation of Earnings Per Share For    
              the Three Months Ended March 31, 1997 and 1996.              14

    (b)  On February 18, 1997, the Company filed Form 8-K/A
         relating to the acquisition of the KPI Group of Sparton
         Corporation on December 5, 1996 to include the required
         financial statements under Item 7.

                                         -12-

<PAGE>

                                      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.

                                    DURA AUTOMOTIVE SYSTEMS, INC.


Date:  May 9, 1997                  By /s/ David R. Bovee    
                                       -------------------------------------
                                       David R. Bovee
                                       Vice President, Chief Financial Officer
                                       (principal accounting and financial
                                       officer)

                                    -13-