Borgward was on the verge of closing

Borgward was on the verge of closing

August 27, 2020 0 By autotimesnews

After a short run of the German brand under Chinese management, the businesses seem to have come to a standstill.

For the first time, they started talking about the revival of the German brand Borgward in 2015 after the Frankfurt Motor Show, at which the new owners of the brand presented the Borgward BX7 crossover. Despite the presence of the founder’s grandson on the board, two-thirds of it belonged to the Chinese company Foton.

From 30,000 to 45,000 cars of the revived brand were sold annually in China, but in 2018 Foton was not satisfied with the state of affairs and Borgward was sold again, this time to the Chinese passenger transportation service UCAR Group. With the new owners, business seemed to go uphill – in 2019 the company managed to sell more than 45,000 cars. However, the year 2020 and a pandemic came, as a result of which the brand’s sales fell to 5,500 cars.

The manufacturer’s official website is not currently being updated. The headquarters of Borgward, which for old memory was left in Stuttgart, lost its signboard, and no one answers the phones. The head of the company Bruno Lambert, despite numerous requests from the European specialized media, does not agree to be interviewed. At the same time, sales of Borgward crossovers in Europe continue, but they cannot be called stunning. According to a representative of one of the dealers, they did not receive any orders to stop selling cars of the brand.