Kia Dealership Houston– 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, once the Hyundai Motor Company, once sales of greater than 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 on top of US$6 billion. Kia in viewpoint is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% happening to 45.37%, toting up more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung truthfulness Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung correctness Industry tainted its reveal to Kia Industries, and higher built Honda-licensed little motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly forest in 1973, the Sohari Plant. Kia built the little Brisa range of cars until 1981, taking into consideration production came to an stop after the new military dictator Chun Doo-hwan enforced industry consolidation. This annoyed Kia to allow occurring passenger cars and focus completely upon well-ventilated trucks. Prior to the goaded 1981 shutdown, Kia rounded out its passenger car lineup subsequently two further foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when on your own 26 cars were manufactured, followed by greater than 95,000 the neighboring year), Kia rejoined the automobile industry in partnership bearing in mind Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into further 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 united States. The first Kia-branded vehicles in the associated States were sold from four dealerships in Portland, Oregon, in February 1994. previously then, Kia critically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the joined States segment expanded their heritage in imitation of the accessory of the Sportage. beyond one hundred Kia dealerships existed across thirty states by 1995, selling a photo album 24,740 automobiles.
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However, during the Asian financial crisis, Kia stated bankruptcy in 1997; and in 1998 reached an taking over similar to Hyundai Motor Company to diversify by exchanging ownership along with both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an raptness in Kia Motors past 1986. After subsequent divestments, Hyundai Motor Company owns nearly one third of Kia Motor Corporation. even though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company in addition to retains ownership in some 22 alternative Hyundai Motor Company subsidiaries. previously 2005, Kia has focused upon the European shout out and has identified design as its “core cutting edge growth engine”leading to the hiring of Peter Schreyer in 2006 as chief design governor and his subsequent creation of a further corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke sports ground 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. make known share. In August 2014, the company expected international attention when 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 greater than before attention than two other vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile user-friendly ceremony of his coming on at the Seoul airdrome on 14 August. In 2016, Kia Motors model reliability was ranked first in the joined States by J.D. knack and Associates, becoming the first non-luxury automaker since 1989 to summit that list.