Kia Of Raleigh– 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, later than the Hyundai Motor Company, considering sales of higher 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%, adding together more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung precision 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 tainted its make known to Kia Industries, and far ahead built Honda-licensed little 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 end after the further military dictator Chun Doo-hwan enforced industry consolidation. This annoyed Kia to manage to pay for up passenger cars and focus no question on buoyant trucks. Prior to the provoked 1981 shutdown, Kia rounded out its passenger car lineup behind two new foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when lonesome 26 cars were manufactured, followed by beyond 95,000 the neighboring year), Kia rejoined the automobile industry in partnership past 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 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 allied States. The first Kia-branded vehicles in the joined States were sold from four dealerships in Portland, Oregon, in February 1994. back then, Kia methodically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the united States segment expanded their line gone the supplement of the Sportage. exceeding one hundred Kia dealerships existed across thirty states by 1995, selling a cd 24,740 automobiles.
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However, during the Asian financial crisis, Kia acknowledged bankruptcy in 1997; and in 1998 reached an appointment past 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 raptness in Kia Motors past 1986. After subsequent divestments, Hyundai Motor Company owns very nearly one third of Kia Motor Corporation. while Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company with retains ownership in some 22 alternative Hyundai Motor Company subsidiaries. in the past 2005, Kia has focused on the European puff and has identified design as its “core complex accrual engine”leading to the hiring of Peter Schreyer in 2006 as chief design superintendent and his subsequent inauguration of a other corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke dome 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 customary 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 affable ceremony of his arrival at the Seoul airdrome upon 14 August. In 2016, Kia Motors model reliability was ranked first in the united States by J.D. facility and Associates, becoming the first non-luxury automaker since 1989 to top that list.