Kia Of south Austin– 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, similar to the Hyundai Motor Company, past 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 beyond US$6 billion. Kia in approach is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% stirring to 45.37%, tally more than US$8.3 billion.
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Kia was founded in December 1944 as Kyungsung correctness Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Korea’s first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung accurateness Industry untouched its pronounce to Kia Industries, and forward-thinking 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 little Brisa range of cars until 1981, once production came to an end after the extra military dictator Chun Doo-hwan enforced industry consolidation. This irritated Kia to pay for up passenger cars and focus agreed on well-ventilated trucks. Prior to the irritated 1981 shutdown, Kia rounded out its passenger car lineup subsequently two supplementary foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when isolated 26 cars were manufactured, followed by higher than 95,000 the next-door year), Kia rejoined the automobile industry in partnership as soon as 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 joined States. The first Kia-branded vehicles in the associated States were sold from four dealerships in Portland, Oregon, in February 1994. since then, Kia methodically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the associated States segment expanded their descent taking into account the addition of the Sportage. greater than one hundred Kia dealerships existed across thirty states by 1995, selling a tape 24,740 automobiles.
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However, during the Asian financial crisis, Kia avowed bankruptcy in 1997; and in 1998 reached an concurrence in the same way as 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 in the past 1986. After subsequent divestments, Hyundai Motor Company owns practically one third of Kia Motor Corporation. even if Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company along with retains ownership in some 22 alternative Hyundai Motor Company subsidiaries. before 2005, Kia has focused upon the European publicize and has identified design as its “core well ahead increase engine”leading to the hiring of Peter Schreyer in 2006 as chief design official and his subsequent creation of a additional corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke showground 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. spread around share. In August 2014, the company acknowledged international attention taking into account 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 supplementary vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile comprehensible ceremony of his coming on at the Seoul landing field on 14 August. In 2016, Kia Motors model reliability was ranked first in the united States by J.D. talent and Associates, becoming the first non-luxury automaker before 1989 to top that list.