Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the 1960s. The Borgward group generated four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the businesses first new car within over 40 years, the BX7 at this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself involving "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and through the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand your scope of his automotive business, and he took control of the usb ports.
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The 1st "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the however three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Founder. Borgward turned his awareness of the other businesses as well as led the development on the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the title was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from businesses he had acquired in recent times to found three separate 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 as being a single entity, but in a business operated with a man to whom delegation didn't come naturally the proliferation of legal entities however added unhelpful layers of complexity over the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable with the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of many top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production for the life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such as air suspension and automated transmission, the company had trouble competing out there. While larger companies including Opel and VW took benefit of economies of scale as well as kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its size, as it basically run as four tiny independent companies and do not implemented such basic cost reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with front wheel drive, but plagued with problems for instance water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was required into liquidation by creditors. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after the creditors were paid 100 %, there was still four. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced within an article that appeared throughout Germany's leading news journal, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's small business approach, and included many from the arguments later advanced to go into detail or justify the firm's demise. The widest range connected with cars from any maker in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Marks, placing the overall sales value in the combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or dropped apart, resulting in massive charges for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article hasn't been the only serious community criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild paper and in television accounts. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly on full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was above usual, reflecting ambitious growth options, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and from the 12, 000 delivered to these individuals) 6, 000 might have being taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit by way of North American slump successful for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further one particular million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood associated with critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the particular senate’s terms on several February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing a nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler who reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s occupation. He had studied legislation at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg beginning, Semler was by this time around based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the dispute that followed the Borgward bankruptcy.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business to continue to trade while simultaneously protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses in order to survive.
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