Jeff Smith Kia Perry Ga– Kia Motor Corporation (Hangul: 기아자동차; Hanja: 起亞自動車, IPA: [ki.a], lit. ”Kia automobile”; stylized as KIΛ), headquartered in Seoul, is South Korea’s second-largest automobile manufacturer, like the Hyundai Motor Company, subsequent to sales of exceeding 3.3 million vehicles in 2015. As of December 2015, the Kia Motor Corporation is minority owned by Hyundai, which owns a 33.88% stake valued at just higher than US$6 billion. Kia in outlook is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% taking place to 45.37%, tally more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung exactness Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung precision Industry misrepresented its state to Kia Industries, and sophisticated built Honda-licensed small motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly plant in 1973, the Sohari Plant. Kia built the little Brisa range of cars until 1981, later production came to an stop after the additional military dictator Chun Doo-hwan enforced industry consolidation. This irritated Kia to find the money for going on passenger cars and focus totally upon vivacious trucks. Prior to the forced 1981 shutdown, Kia rounded out its passenger car lineup later than two additional foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when deserted 26 cars were manufactured, followed by greater than 95,000 the adjacent year), Kia rejoined the automobile industry in partnership following Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into additional countries. These models included the Kia Pride, based upon the Mazda 121, and the Avella, which were sold in North America and Australasia as the Ford Festiva and Ford Aspire.In 1992, Kia Motors America was incorporated in the joined States. The first Kia-branded vehicles in the joined States were sold from four dealerships in Portland, Oregon, in February 1994. since then, Kia critically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the allied States segment expanded their lineage once the accessory of the Sportage. more than one hundred Kia dealerships existed across thirty states by 1995, selling a sticker album 24,740 automobiles.
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However, during the Asian financial crisis, Kia declared bankruptcy in 1997; and in 1998 reached an concurrence later than Hyundai Motor Company to diversify by exchanging ownership amongst both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an interest in Kia Motors past 1986. After subsequent divestments, Hyundai Motor Company owns virtually one third of Kia Motor Corporation. though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company then retains ownership in some 22 alternative Hyundai Motor Company subsidiaries. back 2005, Kia has focused upon the European shout from the rooftops and has identified design as its “core superior accrual engine”leading to the hiring of Peter Schreyer in 2006 as chief design executive and his subsequent opening of a new corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke pitch for Kia Motors Manufacturing Georgia in West Point, Georgia, representing a $1 billion USD investment for the company. Kia Motors Manufacturing Georgia opened in February 2010, after Kia recorded its 15th consecutive year of increased U.S. shout out share. In August 2014, the company traditional international attention in the same way as Pope Francis of the Catholic Church rode in one of their compact cars, the Kia Soul, during a five-day visit to South Korea. The Kia Soul drew bigger attention than two extra vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile straightforward ceremony of his arrival at the Seoul airdrome on 14 August. In 2016, Kia Motors model reliability was ranked first in the allied States by J.D. capacity and Associates, becoming the first non-luxury automaker since 1989 to summit that list.