Kia Of Milford– 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, taking into account the Hyundai Motor Company, like sales of beyond 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 slope is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% in the works to 45.37%, tallying more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung truth 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 untouched its declare to Kia Industries, and innovative built Honda-licensed little motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly tree-plant in 1973, the Sohari Plant. Kia built the little Brisa range of cars until 1981, next production came to an stop after the further military dictator Chun Doo-hwan enforced industry consolidation. This motivated Kia to provide happening passenger cars and focus totally upon lighthearted trucks. Prior to the irritated 1981 shutdown, Kia rounded out its passenger car lineup considering two other foreign models assembled under license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when on your own 26 cars were manufactured, followed by on top of 95,000 the next year), Kia rejoined the automobile industry in partnership similar to Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into other 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 associated States. The first Kia-branded vehicles in the allied States were sold from four dealerships in Portland, Oregon, in February 1994. previously then, Kia rationally expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the associated States segment expanded their lineage when the accessory of the Sportage. greater 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 taking office once 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 immersion in Kia Motors past 1986. After subsequent divestments, Hyundai Motor Company owns roughly one third of Kia Motor Corporation. even though Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company next retains ownership in some 22 oscillate Hyundai Motor Company subsidiaries. past 2005, Kia has focused upon the European publicize and has identified design as its “core future lump engine”leading to the hiring of Peter Schreyer in 2006 as chief design executive and his subsequent creation of a supplementary 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. make known share. In August 2014, the company received international attention later 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 enlarged attention than two other vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile clear ceremony of his start at the Seoul airdrome on 14 August. In 2016, Kia Motors model reliability was ranked first in the united States by J.D. skill and Associates, becoming the first non-luxury automaker since 1989 to summit that list.