Borgward's Troubles
Saving suffered recently from declining sales, especially in the export market, the German Borgward concern is to be taken over by a new company supported by the Bremen City Parliament. Herr Borgward will retire from his governing position, and the two subsidiary companies Goliath and Lloyd will be reorganised. Borgward began to meet difficulties last year with the increased competition in the small car Held, which the company had previously dominated. The Borgward section of the group, whose main model is the popular 1500
c.c. Isabella, made a profit, but it was Insufficient to carry Goliath and Lloyd. In the meantime, the concern has 12,000 unsold vehicles to dispose of, and the daily production rate has been cut back to 285 vehicles a day.
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Press, Volume C, Issue 29435, 10 February 1961, Page 11
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126Borgward's Troubles Press, Volume C, Issue 29435, 10 February 1961, Page 11
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