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 made four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the corporation's first new car with over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business return to 1905 with the organization in nearby Varel from the "Hansa Automobilgesellschaft" and the foundation in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and from 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 automotive business, and he took control of computer.
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The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with 3 hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Leader. Borgward turned his care about the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was and 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 corporations he had acquired in the past to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes the companies would be run being 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 from the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company offered 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 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 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such because air suspension and programmed transmission, the company had trouble competing out there. While larger companies similar to Opel and VW took good thing about economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its dimension, as it basically handled as four tiny independent companies and do not implemented such basic cost reduction strategies as mutual development and parts sharing between the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox snags. Lloyd lost money on the car community . was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after this creditors were paid entirely, there was still 5. 5 million Marks left from the business.
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Stories of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly vital of Carl Borgward's enterprise approach, and included many from the arguments later advanced to go into detail or justify the business's demise. The widest range of cars from any supplier in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Grades, placing the overall sales value through the combined Borgward auto businesses only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation regarding new and modified types featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article had not been the only serious community criticism targeting Borgward at this time: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild classifieds and in television reviews. Critical media commentaries furthermore appeared concerning large loans to 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 including auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more seasons than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered from the North American dealers in 1960 (and with the 12, 000 delivered to them) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit by the North American slump popular for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
At 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 local government which initially the Bremen senators consented to provide. However, following the flood associated with critical press comment the senators withdrew their guarantee. 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 the still hostile media, Borgward agreed to your senate’s terms on four February 1961, thereby averting the bankruptcy of the business.The Bremen Senate also insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s vocation. He had studied regulation at university and worked initially as a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU celebration, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg roots, Semler was by this time based in Munich, with a network of contacts inside the Bavarian establishment that almost certainly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position in the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to help chair the Borgward supervisory table would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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 with the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while at the same time protecting the interests of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have got 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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