Word: borgward
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Ever since aging German Carmaker Carl Borgward went broke last year (TIME, Feb. 17, 1961), there have been recurrent rumors that his Bremen plants were about to be sold to one or another of Detroit's Big Three. Last week, after six months of quiet negotiation, Borgward was finally sold for $14 million-but not to Detroit. The buyer turned out to be Impulsora Mexicana Automotriz, a consortium recently formed by top Spanish Truckmaker Eduardo Barreiros Rodriguez and a covey of Latin American entrepreneurs, including Bolivian Tin King Antenor Patino and Millionaire Mexico City Lawyer Ernesto Santos Galindo...
...Toward Borgward Sir: We have to draw your attention to the fact that your statement about sales of Borgward autos is not correct. Our sales during the calendar year totaled 4,619 units instead of 2,000, as mentioned in your article...
...WINKLER Executive Vice President Borgward Motors Corp...
...carried away by his last-minute ideas. Production men and cost accountants were run ragged by his habit of adding strips of chrome and other gadgets to models ready for production. Even though his production got as high as 107,000 units per year, between 1949 and 1961 Borgward put out 17 completely different models in some 60 styles. Said one of his aides in rueful amazement: "Give him a piece of clay and before you know it Carl has another model." He often tailored his cars to his own measurements, and since he was only...
Nevertheless, Borgward's freewheeling inventiveness often captured the public fancy. One of his earliest successes was a 1924 three-wheel truck, still widely copied. In the postwar years, Borgward put out the bestselling LP-300 Minicar, catching the bugmobile craze on the rise. If Borgward had concentrated on tiny cars, he might easily have dominated the mini-car market. But after he had sold 350,000 of them, he grew bored, moved on to expand his bigger cars-and failure...