Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the corporation's first new car within over 40 years, the BX7 at the 2015 International Motor Display.The origins of Bremen's most significant auto-business get back to 1905 with the place in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and through the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand your scope of his auto business, and he took control from it.
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The 1st "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his attention to the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the label 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 number of the brand names from organizations he had acquired over time to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes the companies would be run being a single entity, but in a business operated with a man to whom delegation didn't come naturally the expansion of legal entities nonetheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most widely used model and remained in production with the life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such while air suspension and computerized transmission, the company had trouble competing available on the market. While larger companies including Opel and VW took benefit of economies of scale and also kept their prices low to achieve market share, Borgward's cost structure was even greater than necessary for its size, as it basically controlled as four tiny independent companies and do not implemented such basic charge reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with the front wheel drive, but plagued with problems for example water leakage and gearbox glitches. Lloyd lost money on the car although it was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died in July 1963, still insisting the company was technically solvent. This proved to be true inside the sense that after the particular creditors were paid entirely, there was still four. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news mag, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly crucial of Carl Borgward's company approach, and included many on the arguments later advanced to go into detail or justify the business's demise. The widest range associated with cars from any manufacturer in Germany, produced by three till recently operationally autonomous companies (Borgward, Goliath and Lloyd) had been supporting a turnover involving only 650 million Represents, placing the overall sales value in the combined Borgward auto companies only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation connected with new and modified models featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") afforded rise to components which excessively did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild magazine and in television stories. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more in season than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and from the 12, 000 delivered to these) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not really the only European auto maker hit by way of a North American slump widely used for imported cars during 1960. In the same calendar year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further one million Marks of credit, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood regarding critical press comment your senators withdrew their guarantee. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to your senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s job. He had studied regulation at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that almost certainly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to help chair the Borgward supervisory board would, in retrospect, contribute to the dispute that followed the Borgward chapter 7.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling this company to continue to trade while at the same time protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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