Commercial Vehicle Group Reports Third-Quarter 2005 Results

NEW ALBANY, Ohio, Oct. 25, 2005 -- Commercial Vehicle Group, Inc. , today reported revenues of $205.9 million for the third quarter ended September 30, 2005, up 109% compared to $98.7 million in the prior-year period. Operating income for the third quarter was $24.6 million, a $13.3 million or 118% increase, compared to $11.3 million reported for the same period last year. Net income for the quarter was $11.9 million, or $0.57 per diluted share, compared to $6.8 million, or $0.42 per diluted share, in the prior-year quarter. As a result of the company's July 2005 stock offering, fully diluted shares outstanding for the quarter were 20.9 million compared to 16.4 million in the prior-year quarter.

Results for the third quarter included the effects of the Company's acquisition of Cabarrus Plastics, Inc. from August 8, 2005 forward. Results for the third quarter also included the mark-to-market of CVG's foreign exchange contracts, which positively impacted the quarter on a pre-tax basis by $0.3 million compared to a $1.2 million expense in the prior-year quarter.

"We are pleased with our third quarter results as revenues, operating profit and earnings per share were all above expectations for the quarter. Our primary markets remain solid despite the continuing price pressures on raw materials and petroleum-based services," said Mervin Dunn, president and chief executive officer of Commercial Vehicle Group. "We are also very pleased with the acquisition of Cabarrus Plastics during the quarter and look forward to the opportunities ahead of us with Cabarrus and its management team as part of the CVG family."

Revenues for the quarter compared to the prior-year period increased by $107.1 million, due primarily to the acquisitions of Mayflower, Monona and Cabarrus, a 23% increase in North American OEM truck production volumes over the prior-year quarter and higher OEM sales in the European and Asian seating markets. The Company increased earnings before interest, taxes, depreciation and amortization (EBITDA) from $13.0 million in the prior-year quarter to $27.6 million in the third quarter of 2005. CVG's net debt position at the end of the quarter was approximately $166 million.

The Company reported revenues of $554.4 million for the nine months ended September 30, 2005, up 99% compared to $279.2 million in the prior-year period. Operating income for the nine-month period was $67.1 million compared to $19.1 million last year. Net income for the nine month period was $37.0 million, or $1.93 per diluted share, compared to $11.5 million, or $0.78 per diluted share, in the prior nine-month period. Results for the nine months ended September 30, 2004 include the effects of a $10.1 million non- cash option issuance charge.

A conference call to review third quarter results and discuss business updates and operations is scheduled for Tuesday, October 25, 2005 at 2:00 p.m. EDT. Interested participants may listen to the live conference call by dialing (706) 634-5011 and asking for the CVG Third Quarter 2005 Earnings Conference Call. A recording of this call also will be available until midnight, November 1, 2005 by dialing (706) 645-9291, PIN 1732827#.

About Commercial Vehicle Group, Inc.

Commercial Vehicle Group is a leading supplier of fully integrated system solutions for the global commercial vehicle market, including the heavy-duty truck market, the construction and agriculture market and the specialty and military transportation markets. The company's products include suspension seat systems, interior trim systems, such as instrument and door panels, headliners, cabinetry, molded products and floor systems, cab structures and components, mirrors, wiper systems, electronic wiring harness assemblies and controls and switches specifically designed for applications in commercial vehicle cabs. CVG is headquartered in New Albany, OH with operations throughout North America, Europe and Asia. Information about CVG and its products is available on the internet at http://www.cvgrp.com/ .

Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," or similar expressions. These statements are based on certain assumptions that the company has made in light of its experience in the industry as well as its perspective on historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including but not limited to: (i) CVG's ability to develop or successfully introduce new products; (ii) risks associated with conducting business in foreign countries and currencies; (iii) general economic or business conditions affecting the markets in which CVG serves; (iv) increased competition in the heavy-duty truck market; (v) CVG's failure to complete or successfully integrate additional strategic acquisitions; and (vi) various other risks as outlined in CVG's SEC filings. There can be no assurance that statements made in this press release relating to future events will be achieved. CVG undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. All subsequent written and oral forward-looking statements attributable to CVG or persons acting on behalf of CVG are expressly qualified in their entirety by such cautionary statements.

             COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES

             CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
       (Amounts in thousands, except per share amounts - unaudited)

                                  Three Months Ended  Nine Months Ended
                                    September 30,       September 30,
                                    2005       2004    2005      2004

  REVENUES                       $205,859   $98,713  $554,365  $279,193

  COST OF SALES                   169,364    80,484   455,476   228,622

    Gross Profit                   36,495    18,229    98,889    50,571

  SELLING, GENERAL AND
   ADMINISTRATIVE EXPENSES         11,876     6,918    31,597    21,282

  NONCASH OPTION ISSUANCE CHARGE       --        --        --    10,125

  AMORTIZATION EXPENSE                 53        22       217        85

  Operating Income                 24,566    11,289    67,075    19,079

  OTHER (INCOME) EXPENSE             (325)    1,166    (3,598)   (2,533)

  INTEREST EXPENSE                  3,977     1,599     9,460     5,938

  LOSS ON EARLY
   EXTINGUISHMENT OF DEBT           1,525     1,605     1,525     1,605

  Income Before Income Taxes       19,389     6,919    59,688    14,069

  PROVISION FOR INCOME TAXES        7,491        73    22,719     2,551

  NET INCOME                      $11,898    $6,846   $36,969   $11,518

  BASIC EARNINGS PER SHARE          $0.58     $0.42     $1.96     $0.79

  DILUTED EARNINGS PER SHARE        $0.57     $0.42     $1.93     $0.78

  Reconciliation to EBITDA:
    Net Income                    $11,898    $6,846   $36,969   $11,518
    Provision for Income Taxes      7,491        73    22,719     2,551
    Other (Income) Expense           (325)    1,166    (3,598)   (2,533)
    Interest Expense                3,977     1,599     9,460     5,938
    Loss on Early Extinguishment
     of Debt                        1,525     1,605     1,525     1,605
    Depreciation and Amortization   3,027     1,736     8,926     5,829
    Noncash Option Issuance Charge     --        --        --    10,125
  EBITDA(1)                       $27,593   $13,025   $76,001   $35,033

  (1) EBITDA is defined as income before taxes, interest expense,
      depreciation, amortization and certain other non-recurring items.
      EBITDA is presented because the company believes that it is widely
      accepted that EBITDA provides useful information to management and
      investors regarding its operating results.  EBITDA should not be
      considered as an alternative to, or more meaningful than, amounts
      determined in accordance with generally accepted accounting
      principles.  EBITDA is not calculated identically by all companies,
      and therefore, the presentation herein may not be comparable to
      similarly titled measured of other companies.

             COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES

                  CONDENSED CONSOLIDATED BALANCE SHEETS
                    (Amounts in thousands - unaudited)

                                            September 30,     December 31,
                                                2005             2004
                         ASSETS
  CURRENT ASSETS:
    Cash and cash equivalents                 $25,250           $1,396
    Accounts receivable - Net                 128,511           46,267
    Inventories                                66,635           36,936
    Prepaid expenses and other current assets   4,392            6,081
    Deferred income taxes                       9,944            8,201
      Total current assets                    234,732           98,881
  PROPERTY, PLANT AND EQUIPMENT - Net          70,796           32,965
  GOODWILL                                    145,552           84,715
  DEFERRED INCOME TAXES                         9,870            5,901
  INTANGIBLE AND OTHER ASSETS - Net            61,990            3,176
                                             $522,940         $225,638

        LIABILITIES AND STOCKHOLDERS' INVESTMENT

  CURRENT LIABILITIES:
    Current maturities of long-term debt       $5,127           $4,884
    Accounts payable                           74,697           33,846
    Accrued liabilities                        42,357           18,424
      Total current liabilities               122,181           57,154
  LONG-TERM DEBT - Net                        186,473           49,041
  OTHER LONG-TERM LIABILITIES                  24,947            8,397
      Total liabilities                       333,601          114,592
  COMMITMENTS AND CONTINGENCIES
  STOCKHOLDERS' INVESTMENT:
    Common stock, $0.01 par value per
     share; 30,000,000 shares authorized;
     20,946,490 and 17,987,497 shares
     outstanding                                  209              180
    Additional paid-in capital                168,565          123,660
    Retained Earnings (Accumulated Deficit)    21,515          (15,454)
    Stock subscriptions receivable                (49)            (175)
    Accumulated other comprehensive
     income (loss)                               (901)           2,835
      Total stockholders' investment          189,339          111,046
                                             $522,940         $225,638