Kia Of Elk Grove

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Kia Of Elk Grove– 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, past the Hyundai Motor Company, later sales of on top of 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 point of view is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% going on 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 truth Industry tainted its herald to Kia Industries, and unconventional 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 small Brisa range of cars until 1981, past production came to an end after the new military dictator Chun Doo-hwan enforced industry consolidation. This provoked Kia to have the funds for going on passenger cars and focus extremely upon roomy trucks. Prior to the forced 1981 shutdown, Kia rounded out its passenger car lineup as soon as two additional foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when forlorn 26 cars were manufactured, followed by on top of 95,000 the next-door year), Kia rejoined the automobile industry in partnership gone Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into supplementary 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 allied States. The first Kia-branded vehicles in the joined States were sold from four dealerships in Portland, Oregon, in February 1994. since then, Kia rationally expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the allied States segment expanded their heritage like the addition of the Sportage. over one hundred Kia dealerships existed across thirty states by 1995, selling a compilation 24,740 automobiles.

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However, during the Asian financial crisis, Kia declared bankruptcy in 1997; and in 1998 reached an agreement gone Hyundai Motor Company to diversify by exchanging ownership together with both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an assimilation in Kia Motors in the past 1986. After subsequent divestments, Hyundai Motor Company owns not quite one third of Kia Motor Corporation. though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company then retains ownership in some 22 interchange Hyundai Motor Company subsidiaries. back 2005, Kia has focused upon the European present and has identified design as its “core far along accumulation engine”leading to the hiring of Peter Schreyer in 2006 as chief design executive and his subsequent start of a new corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke arena 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. publicize share. In August 2014, the company standard international attention subsequent to 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 augmented 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 initiation at the Seoul airport on 14 August. In 2016, Kia Motors model reliability was ranked first in the associated States by J.D. capacity and Associates, becoming the first non-luxury automaker before 1989 to top that list.