Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group made four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation's first new car inside over 40 years, the BX7 at your 2015 International Motor Show.The origins of Bremen's most significant auto-business resume 1905 with the business in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "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 financial situation then confronting Germany, the business failed to prosper and through the late 1920s faced chapter 7. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand this scope of his automotive business, and he took control of it.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success on 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 home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his awareness of the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 in addition to in 1939 the title was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired through the years to found three separate 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 lenders would be run being a single entity, but in a business operated by the man to whom delegation didn't come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of several top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most in-demand model and remained in production for that life of the corporation. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and programmed transmission, the company had trouble competing available. While larger companies just like Opel and VW took benefit of economies of scale and also kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its size, as it basically controlled as four tiny independent companies and do not implemented such basic price tag reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car just about the most was more expensive when compared with its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died in July 1963, still insisting the company was technically solvent. This proved to be true inside the sense that after the creditors were paid fully, there was still 5. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced within an article that appeared in Germany's leading news journal, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeated 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 enterprise approach, and included many from the arguments later advanced to spellout or justify the businesses demise. The widest range regarding cars from any supplier in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Represents, placing the overall sales value from the combined Borgward auto firms only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation regarding new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or fell into apart, resulting in massive expenses 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 had not been the only serious open public criticism targeting Borgward at this time: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild paper and in television reviews. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided with the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe in the 1950s/60s was more in season than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at 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 of the 15, 000 Borgward cars ordered by the North American dealers in 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by the North American slump in demand for imported cars in the course of 1960. In the same year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lending company for a further just one million Marks of credit history, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood involving critical press comment the actual 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 in a still hostile media, Borgward agreed to this senate’s terms on 5 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s occupation. He had studied rules at university and worked initially as a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg roots, Semler was by now based in Munich, with a network of contacts from the Bavarian establishment that most likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position within the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
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With 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 the company to continue to trade while at the same time protecting the interests connected with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any goal of allowing the Borgward auto-businesses to help survive.
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