Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the actual 1960s. The Borgward group generated four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has considering that 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 firm's first new car throughout over 40 years, the BX7 at the 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business return to 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to form 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 on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his auto business, and he took control than it.
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The 1st "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the oppertunity 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 presented synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his care about the other businesses in addition to led the development in 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 continued 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 individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality 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 wouldn't come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.On the list of top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most favored model and remained in production with the life of the company. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 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 some F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and automatic transmission, the company had trouble competing available on the market. While larger companies including Opel and VW took selling point of 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 measurement, as it basically managed as four tiny independent companies and don't implemented such basic price tag reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive in comparison with its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after your creditors were paid 100 %, there was still 5. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared in Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly essential of Carl Borgward's business approach, and included many of the arguments later advanced to describe or justify the business's demise. The widest range associated with cars from any company in Germany, produced by three until finally recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover associated with only 650 million Marks, placing the overall sales value from the combined Borgward auto companies only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified versions featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") offered rise to components which many times did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious public criticism targeting Borgward right now: suddenly stridently negative (in case 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 for the Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly in full capacity, but the car market in Europe inside 1950s/60s was more periodic than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth plans, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers within 1960 (and from the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by the North American slump sought after 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 Big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit ratings, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood regarding critical press comment the actual senators withdrew their promise. 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 in the still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing its nominee as chairman with the company’s supervisory board. The man they chose was Johannes Semler with whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s occupation. He had studied law at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts from the Bavarian establishment that probably included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
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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 for your establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling this company to continue to trade while as well protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his or her own, never had any goal of allowing the Borgward auto-businesses in order to survive.
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