Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the 1960s. The Borgward group created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car within over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the establishment in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated 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 economic situation then confronting Germany, the business failed to prosper and because of the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his car business, and he took control from it.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of small 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 home of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the even now three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses along with led the development in the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and in 1939 the title was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from companies he had acquired through the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business each time of austerity and rationing. For many purposes the lenders would be run as a single entity, but in a business operated by way of a man to whom delegation failed to come naturally the expansion of legal entities even so added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which in the long run proved financially unsustainable using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production to the life of the business. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies similar to 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 higher than necessary for its dimension, as it basically run as four tiny independent companies and not implemented such basic cost reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox snags. 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 loan companies. Carl Borgward died with July 1963, still insisting the company was technically solvent. This proved to be true in the sense that after your creditors were paid in full, there was still some. 5 million Marks remaining from the business.
Reviews of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news magazine, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly crucial of Carl Borgward's enterprise approach, and included many with the arguments later advanced to go into detail or justify the company's demise. The widest range connected with cars from any supplier in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover connected with only 650 million Grades, placing the overall sales value through the combined Borgward auto organizations only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") afforded rise to components which excessively did not work, broke down or fell apart, resulting in massive charges for pre-delivery remediation and/or write-up delivery warranty work that found their made use of to the company.The December 1960 Spiegel article has not been the only serious public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild magazine and in television reports. Critical media commentaries likewise appeared concerning large loans towards 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 such as auto manufacturing use the expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe within the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers in 1960 (and with the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by way of a North American slump popular 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 Big apple were overcrowded with unsold Dauphines.
By the end of December 1960 Borgward approached the bank for a further one particular million Marks of credit score, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood regarding critical press comment the actual senators withdrew their ensure. They now required Carl Borgward to pledge this company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to the actual senate’s terms on 5 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate also insisted on appointing a nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s occupation. He had studied legislation at university and worked initially being a lawyer. The scion of a top Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg roots, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors on 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 this company to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses to help survive.
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