Borgward is surely an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group made four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car throughout over 40 years, the BX7 at your 2015 International Motor Show.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself regarding "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and with the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand your scope of his automotive business, and he took control than it.
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The initial "automobile" Carl Borgward developed was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with two hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Master. Borgward turned his care about the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also in 1939 the identify was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from corporations he had acquired over time to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business each time of austerity and rationing. For many purposes the lenders would be run like a single entity, but in a business operated with a man to whom delegation would not come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which in the end proved financially unsustainable while using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of several top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most favored model and remained in production for that life of the organization. In 1960 the Borgward P100 has 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 being a successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such seeing that air suspension and computerized transmission, the company had trouble competing available. While larger companies like Opel and VW took advantage of economies of scale and kept their prices low to gain market share, Borgward's cost structure was even above necessary for its dimension, as it basically managed as four tiny independent companies and never implemented such basic expense reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox errors. Lloyd lost money on the car just about the most was more expensive than its direct competitors.In 1961, the company was pressured into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after your creditors were paid completely, there was still some. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's small business approach, and included many from the arguments later advanced to go into detail or justify the business's demise. The widest range connected with cars from any supplier in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover involving only 650 million Marks, placing the overall sales value from your combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation involving new and modified designs featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") provided rise to components which too often did not work, broke down or dropped apart, resulting in massive charges for pre-delivery remediation and/or write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article hasn't been the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses including auto manufacturing use his or her expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars by the end of 1960 was greater than usual, reflecting ambitious growth strategies, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered because of the North American dealers within 1960 (and in the 12, 000 delivered to these individuals) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not the one European auto maker hit by a North American slump in demand for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned the government financial aid 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 bank for a further a single million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood involving critical press comment this senators withdrew their promise. They now required Carl Borgward to pledge this company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to your senate’s terms on several February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing its nominee as chairman from the company’s supervisory board. The man they chose was Johannes Semler who reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards breadth of Semler’s occupation. He had studied regulation at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU get together, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg sources, Semler was by on this occasion based in Munich, with a network of contacts from the Bavarian establishment that likely included fellow CSU politician and also 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 be able to chair the Borgward supervisory aboard would, in retrospect, contribute to the hot debate that followed the Borgward bankruptcy.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the organization to continue to trade while concurrently protecting the interests involving creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any purpose of allowing the Borgward auto-businesses in order to survive.
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