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EXHIBIT 99.1
NEWS RELEASE
COACHMEN INDUSTRIES, INC.
2831 Dexter Drive P. O. Box 3300 Elkhart, Indian 46515
574/595-0123 Fax 574/262-8823
For immediate release Thursday, December 12, 2002
COACHMEN INDUSTRIES REPORTS STRONG SALES AT RV
INDUSTRY TRADE SHOW
ORDERS UP 31%
ELKHART, INDIANA--Coachmen Industries, Inc. (NYSE:COA) announced today that
sales of its RVs at the RV industry trade show in Louisville, Kentucky earlier
this month were robust. Coachmen, which produces most RV product types under
several brand names at various price points, noted that unit sales during the
three-day show were up 31 percent compared to last year. A significant number of
new dealer applications were also taken during the show.
"We're very pleased with this healthy increase in sales at the Louisville show
as we continue to receive additional orders," commented Claire Skinner,
Chairman, CEO and President of Coachmen Industries. "Our newest models have not
only been enthusiastically accepted by our dealer body, they've been selling
briskly at the retail level, too. Our strategy of listening to our customers and
then designing our RVs with their input in mind is an important reason for our
sales success. In recent months a significant number of younger, first-time
buyers have purchased Coachmen Industries RVs and that bodes well for our future
growth as these buyers will likely consider another Coachmen product when they
decide to upgrade."
Coachmen continues to increase production capacity in order to keep up with very
strong demand for its RVs. The Company's sales continue to outpace the industry,
which has experienced a 20 percent increase in wholesale shipments through
October while Coachmen's shipments to its dealers are up 25 percent for the same
time period.
The popularity of the Company's entry-level towable products, especially the
Coachmen(R) Spirit of America(TM) series, has contributed to Coachmen (R)
regaining the title of the best selling travel trailer brand name in the
country, as reported by industry researcher Statistical Surveys, Inc. The Spirit
of America(TM) travel trailer series has been so successful, a fifth wheel
version was introduced at the Louisville show.
Georgie Boy(R), Coachmen Industries' other class A motorhome manufacturer,
showcased a new rear-diesel motorhome at Louisville. The Bellagio(TM), rich
looking far beyond its price point, features full body paint and an array of
amenities typically only found in more expensive motorhomes.
Viking Recreational Vehicles, the Company's fold-down camper subsidiary,
unveiled two new
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Coachmen Industries Reports Strong Sales at RV Industry Trade Show
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December 12, 2002
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low-priced camping trailers designed to appeal to the first-time buyer.
Shasta(R), which produces both class C motorhomes and towable RVs, introduced
the Capri(TM), a new ultra lightweight travel trailer designed to be both
affordable and easily towed by a family's existing vehicle.
Founded in 1964, Coachmen Industries, Inc. is one of the nation's leading
manufacturers of recreational vehicles with well-known brand names including
COACHMEN(R), GEORGIE BOY(R), SHASTA(R) and VIKING(R). Coachmen Industries is
also the largest modular home producer in the nation with its ALL AMERICAN
HOMES(R) and MOD-U-KRAF(R) subsidiaries. Modular commercial and
telecommunication structures are manufactured by the Company's Miller Building
Systems subsidiary. Prodesign, LLC is a subsidiary that custom thermoforms
composite and plastic parts for numerous industries under the PRODESIGN(R)
brand. Coachmen Industries is a publicly held company with stock listed on the
New York Stock Exchange (NYSE) under the COA ticker symbol.
For more information:
Rich Allen, Corporate Communications, Coachmen Industries, Inc.
Phone: 574-262-0123 (Elkhart, IN)
E-mail: rallen@coachmen.com
World Wide Web: www.coachmen.com
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