Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group produced four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the corporation's first new car throughout over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the establishment in nearby Varel in the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "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 situation then confronting Germany, the business failed to prosper and from the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his auto business, and he took control than it.
The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with only 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 many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nevertheless 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 of the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired over time to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business each time of austerity and rationing. For many purposes the businesses would be run as being a single entity, but in a business operated by the man to whom delegation did not come naturally the expansion of legal entities nonetheless added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which eventually proved financially unsustainable while using 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 started in 1954. The Isabella would become Borgward's hottest model and remained in production for your life of the firm. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took good thing about economies of scale in addition to kept their prices low to realize market share, Borgward's cost structure was even above necessary for its dimension, as it basically controlled as four tiny independent companies and don't implemented such basic price reduction strategies as combined development and parts sharing relating to the company's makes. Borgward suffered quality problems at the same time. 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 secrets. Lloyd lost money on the car even though it was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after the actual creditors were paid in full, there was still four. 5 million Marks left over from the business.
Studies of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news magazine, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly critical of Carl Borgward's business approach, and included many on the arguments later advanced to go into detail or justify the corporation's demise. The widest range of cars from any maker in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Marks, placing the overall sales value from your combined Borgward auto firms only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation regarding new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild paper and in television accounts. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided by the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently when they use them constantly on full capacity, but the car market in Europe within the 1950s/60s was more seasonal than today, with sales diminishing within Winter, then peaking in early summer months: Borgward’s inventory of unsold cars by 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 inside 1960 (and with the 12, 000 delivered to them) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the only European auto maker hit by the North American slump widely used for imported cars through 1960. In the same season two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
1962 Simca Bertone Classic Automobiles
By the end of December 1960 Borgward approached the lender for a further 1 million Marks of credit score, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment your senators withdrew their assurance. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy of the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice to the breadth of Semler’s occupation. He had studied legislation at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginning, Semler was by on this occasion based in Munich, with a network of contacts in the Bavarian establishment that most likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position within the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory aboard would, in retrospect, contribute to the dispute that followed the Borgward chapter 7.
With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the organization to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of 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 to survive.
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