Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the 1960s. The Borgward group made four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from China investment, and unveiled the company's first new car inside over 40 years, the BX7 at the actual 2015 International Motor Present.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the walls in Bremen itself of "Namag", maker of the Lloyd auto. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his automotive business, and he took control than it.
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The very first "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with 3 hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his attention to the other businesses and led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 in addition to in 1939 the identify was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from organizations he had acquired in recent times to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business during a period of austerity and rationing. For many purposes the firms would be run to be a single entity, but in a business operated by way of a man to whom delegation failed to come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity through the 1950s and encouraged a broadening in the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.On the list of top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most in-demand model and remained in production for your life of the organization. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and programmed transmission, the company had trouble competing available on the market. While larger companies such as Opel and VW took good thing about economies of scale in addition to kept their prices low to achieve market share, Borgward's cost structure was even above necessary for its size, as it basically controlled as four tiny independent companies and do not implemented such basic cost reduction strategies as combined development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entrance wheel drive, but plagued with problems like water leakage and gearbox secrets. Lloyd lost money on the car even though it was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after this creditors were paid completely, there was still 5. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced in a article that appeared with Germany's leading news publication, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's enterprise approach, and included many with the arguments later advanced to spellout or justify the business's demise. The widest range of cars from any supplier in Germany, produced by three until finally recently operationally autonomous companies (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Marks, placing the overall sales value from your combined Borgward auto companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation of new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild magazine and in television accounts. Critical media commentaries additionally appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly with full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth programs, most obviously in respect of the united states 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 being taken back following a slump in American demand. (Borgward was not the one European auto maker hit with a North American slump sought after for imported cars in the course of 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further a single million Marks of credit, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment the senators withdrew their ensure. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to your senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing a nominee as chairman with 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 into English, does less than full justice for the breadth of Semler’s career. He had studied legislations at university and worked initially being a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position within the Bizone. The appointment of Johannes Semler as the 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 the particular 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 any court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while while doing so protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any purpose of allowing the Borgward auto-businesses in order to survive.
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