Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group developed four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the business'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 resume 1905 with the institution in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd car. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand your scope of his car business, and he took control of it.
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The 1st "automobile" Carl Borgward designed was the 1924 Blitzkarren (super 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 purchased for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his awareness of the other businesses in addition to led the development in the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from businesses he had acquired in recent times to found three distinct 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 businesses would be run as being a single entity, but in a business operated by the man to whom delegation didn't come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity over 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.Among the 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 hottest model and remained in production with the life of the firm. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 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 was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such as air suspension and computerized transmission, the company had trouble competing available on the market. While larger companies similar to Opel and VW took benefit from economies of scale in addition to kept their prices low to get market share, Borgward's cost structure was even above necessary for its measurement, as it basically operated as four tiny independent companies and not implemented such basic expense reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with the front wheel drive, but plagued with problems for example water leakage and gearbox mistakes. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after the actual creditors were paid in full, there was still four. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared within 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 entry cover. It was strongly important of Carl Borgward's small business approach, and included many from the arguments later advanced to spellout or justify the corporation's demise. The widest range involving cars from any supplier in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Scars, placing the overall sales value in the combined Borgward auto organizations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified types featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which too often did not work, broke down or fell apart, resulting in massive charges for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward presently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspapers and in television studies. Critical media commentaries in addition appeared concerning large loans for the Borgward Group provided from the local Landesbank.It is apparent which the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use the expensive machines and tools most efficiently if they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars by the end of 1960 was greater than usual, reflecting ambitious growth strategies, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and of the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by a North American slump successful for imported cars through 1960. In the same calendar year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lender for a further one million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood connected with critical press comment this senators withdrew their assure. 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 within a still hostile media, Borgward agreed to the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman of the company’s supervisory board. The man they selected was Johannes Semler to whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s profession. He had studied law at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU gathering, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg origins, Semler was by now 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 the top administrative position in the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
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On 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business to continue to trade while while doing so protecting the interests of creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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