Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the particular 1960s. The Borgward group produced four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car with over 40 years, the BX7 at this 2015 International Motor Show.The origins of Bremen's most significant auto-business return to 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself connected with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 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 from the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the particular scope of his car business, and he took control of computer.
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The primary "automobile" Carl Borgward intended 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 most of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his focus on the other businesses as well as led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from firms he had acquired through the years to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at the same time of austerity and rationing. For many purposes the companies would be run like a single entity, but in a business operated by a man to whom delegation failed to come naturally the growth of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening on the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of several 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 hottest model and remained in production for the life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that is also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such as air suspension and automated transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took good thing about 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 handled as four tiny independent companies rather than implemented such basic price tag reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was pressured into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after this creditors were paid fully, there was still 4. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared with Germany's leading news magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly important of Carl Borgward's business approach, and included many with the arguments later advanced to describe or justify the business's demise. The widest range of cars from any supplier in Germany, produced by three until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover associated with only 650 million Grades, placing the overall sales value on the combined Borgward auto companies only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation connected with new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which too often did not work, broke down or dropped apart, resulting in massive bills for pre-delivery remediation and/or article delivery warranty work that found their long ago to the company.The December 1960 Spiegel article has not been the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries furthermore appeared concerning large loans on the Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing with Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars by the end of 1960 was above usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered by the North American dealers inside 1960 (and on the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the only European auto maker hit with a North American slump sought after for imported cars through 1960. In the same yr two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached your banker for a further a single million Marks of credit, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood associated with critical press comment the senators withdrew their guarantee. They now required Carl Borgward to pledge the organization itself to the state in substitution 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 some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing a nominee as chairman on the company’s supervisory board. The man they select was Johannes Semler who reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice on the breadth of Semler’s profession. He had studied regulation at university and worked initially as being a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU get together, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg origins, Semler was by these times based in Munich, with a network of contacts inside Bavarian establishment that possibly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position in the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward chapter 7.
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About 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for your 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 regarding creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses to help survive.
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