Kia Of Kingsport– 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, considering the Hyundai Motor Company, similar to sales of more 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 more than US$6 billion. Kia in outlook is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% up to 45.37%, count more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung accurateness Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung truthfulness Industry misused its make known to Kia Industries, and future built Honda-licensed small motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly reforest in 1973, the Sohari Plant. Kia built the little Brisa range of cars until 1981, taking into account production came to an stop after the additional military dictator Chun Doo-hwan enforced industry consolidation. This goaded Kia to have the funds for taking place passenger cars and focus unquestionably on fresh trucks. Prior to the provoked 1981 shutdown, Kia rounded out its passenger car lineup in the manner of two supplementary foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when only 26 cars were manufactured, followed by higher than 95,000 the next year), Kia rejoined the automobile industry in partnership in the manner of 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 on 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. back then, Kia rationally expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the united States segment expanded their extraction subsequent to the adjunct of the Sportage. exceeding one hundred Kia dealerships existed across thirty states by 1995, selling a cassette 24,740 automobiles.
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However, during the Asian financial crisis, Kia acknowledged bankruptcy in 1997; and in 1998 reached an appointment taking into consideration Hyundai Motor Company to diversify by exchanging ownership with both companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company which had owned an fascination in Kia Motors in the past 1986. After subsequent divestments, Hyundai Motor Company owns virtually one third of Kia Motor Corporation. even though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company after that retains ownership in some 22 stand-in Hyundai Motor Company subsidiaries. back 2005, Kia has focused upon the European publicize and has identified design as its “core future deposit engine”leading to the hiring of Peter Schreyer in 2006 as chief design superintendent and his subsequent foundation of a supplementary 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. publicize share. In August 2014, the company traditional international attention bearing in mind 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 improved attention than two additional vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile approachable ceremony of his dawn at the Seoul airport on 14 August. In 2016, Kia Motors model reliability was ranked first in the allied States by J.D. knack and Associates, becoming the first non-luxury automaker since 1989 to summit that list.