Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group generated four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the corporation's first new car within over 40 years, the BX7 at the particular 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back to 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and with the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his automobile business, and he took control of it.
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The 1st "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of tiny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Founder. Borgward turned his attention to the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the title was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from organizations he had acquired in recent times to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the firms would be run like a single entity, but in a business operated with a man to whom delegation didn't come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity over the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.On the list of top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most in-demand model and remained in production with the life of the firm. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such since air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies including Opel and VW took advantage of economies of scale in addition to kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its measurement, as it basically handled as four tiny independent companies and don't implemented such basic expense reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced like a water-cooled boxer with top wheel drive, but plagued with problems like water leakage and gearbox secrets. Lloyd lost money on the car even though it was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after your creditors were paid 100 %, there was still several. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared with Germany's leading news publication, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly essential of Carl Borgward's business approach, and included many with the arguments later advanced to spellout or justify the businesses demise. The widest range connected with cars from any maker in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover associated with only 650 million Scars, placing the overall sales value from your combined Borgward auto companies only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") afforded rise to components which excessively did not work, broke down or fell apart, resulting in massive expenses for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries likewise appeared concerning large loans for the Borgward Group provided from the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe from the 1950s/60s was more seasons than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers within 1960 (and of the 12, 000 delivered to these) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the one European auto maker hit by way of a North American slump in demand for imported cars throughout 1960. In the same calendar year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood associated with critical press comment the particular senators withdrew their assure. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to your senate’s terms on several February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing its nominee as chairman of the company’s supervisory board. The man they chose was Johannes Semler who reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s job. He had studied law at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU gathering, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg beginning, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that probably included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside Bizone. The appointment of Johannes Semler because representative of the Bremen senators in order to chair the Borgward supervisory aboard would, in retrospect, contribute to the dispute that followed the Borgward chapter 7.
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Upon 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the company to continue to trade while while doing so protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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