Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the business's first new car with over 40 years, the BX7 at the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel in the "Hansa Automobilgesellschaft" and the muse in Bremen itself associated with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and from the late 1920s faced 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 actual scope of his vehicle business, and he took control of it.
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The very first "automobile" Carl Borgward intended 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 available in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his focus on the other businesses and led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 along with in 1939 the brand was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from companies he had acquired through the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at a time of austerity and rationing. For many purposes the businesses would be run like a single entity, but in a business operated by way of man to whom delegation would not come naturally the spreading of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of many top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most widely used model and remained in production to the life of the business. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which has been also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such as air suspension and automatic 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 along with kept their prices low to gain market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically handled as four tiny independent companies rather than implemented such basic price tag reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car even though it was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true within the sense that after the particular creditors were paid in full, there was still some. 5 million Marks left from the business.
Reports of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly important of Carl Borgward's enterprise approach, and included many on the arguments later advanced to spell out or justify the company's demise. The widest range of cars from any supplier in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Scars, placing the overall sales value from the combined Borgward auto firms 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 inventions ("fast manisch[e] Konstruierwut") provided rise to components which excessively did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their made use of to the company.The December 1960 Spiegel article was not the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries furthermore appeared concerning large loans for the Borgward Group provided by the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly on full capacity, but the car market in Europe inside 1950s/60s was more seasons than today, with sales diminishing with Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was higher than usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered with the North American dealers in 1960 (and on the 12, 000 delivered to these) 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 a North American slump sought after for imported cars through 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lending company for a further one particular million Marks of credit rating, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood of critical press comment your senators withdrew their ensure. They now required Carl Borgward to pledge the company 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 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler who reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards the breadth of Semler’s career. He had studied rules at university and worked initially being a lawyer. The scion of a top Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that most likely included fellow CSU politician and 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 because the representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward chapter 7.
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Upon 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on 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 the business enterprise to continue to trade while while doing so protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses to be able to survive.
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