Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group made four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the corporation's first new car in 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 inspiration in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and from the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the particular scope of his automotive business, and he took control of the usb ports.
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The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of tiny 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 got it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the however three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his attention to the other businesses in addition to led the development in the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 along with in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired in recent times to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run like a single entity, but in a business operated with a man to whom delegation didn't come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company displayed 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 began in 1954. The Isabella would become Borgward's hottest model and remained in production to the life of the company. In 1960 the Borgward P100 was 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 to become successful Formula Two power unit (that is also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such seeing that air suspension and automatic transmission, the company had trouble competing available. While larger companies just like Opel and VW took advantage of economies of scale as well as kept their prices low to get market share, Borgward's cost structure was even greater than necessary for its measurement, as it basically managed as four tiny independent companies and do not implemented such basic expense reduction strategies as articulation development and parts sharing between your company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as a water-cooled boxer with the front wheel drive, but plagued with problems such as water leakage and gearbox errors. Lloyd lost money on the car although it was more expensive as compared to its direct competitors.In 1961, the company was pushed into liquidation by loan companies. Carl Borgward died with July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after the creditors were paid completely, there was still several. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared within Germany's leading news magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly crucial of Carl Borgward's enterprise approach, and included many with the arguments later advanced to spellout or justify the company's demise. The widest range involving cars from any producer in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover regarding only 650 million Scars, placing the overall sales value from the combined Borgward auto firms only in fifth place 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 improvements ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television stories. Critical media commentaries furthermore appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent which the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for example auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly on full capacity, but the car market in Europe in the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth programs, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered through the North American dealers in 1960 (and from the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by way of North American slump in demand for imported cars in the course of 1960. In the same calendar 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 end of December 1960 Borgward approached the lending company for a further just one million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood associated with critical press comment your senators withdrew their guarantee. They now required Carl Borgward to pledge the business itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the particular senate’s terms on some February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing its nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s job. He had studied law 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 member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward bankruptcy.
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In 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling this company to continue to trade while concurrently protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies 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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