Metro Kia Raynham– 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, next 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 exceeding US$6 billion. Kia in position is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% happening to 45.37%, totaling 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 precision Industry changed its name to Kia Industries, and sophisticated built Honda-licensed small motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly forest in 1973, the Sohari Plant. Kia built the small Brisa range of cars until 1981, afterward production came to an stop after the other military dictator Chun Doo-hwan enforced industry consolidation. This provoked Kia to offer in the works passenger cars and focus very on lighthearted trucks. Prior to the goaded 1981 shutdown, Kia rounded out its passenger car lineup next two further foreign models assembled below license: the Fiat 132 and the Peugeot 604. Starting in 1986 (when only 26 cars were manufactured, followed by over 95,000 the next year), Kia rejoined the automobile industry in partnership taking into account Ford. Kia produced several Mazda-derived vehicles for both domestic sales in South Korea and for export into new 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 united States were sold from four dealerships in Portland, Oregon, in February 1994. past then, Kia systematically expanded one region at a time. Dealers in 1994 sold the Sephia; and a few years later, the joined States segment expanded their pedigree afterward the auxiliary of the Sportage. higher than one hundred Kia dealerships existed across thirty states by 1995, selling a baby book 24,740 automobiles.
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However, during the Asian financial crisis, Kia avowed bankruptcy in 1997; and in 1998 reached an concurrence later 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 assimilation in Kia Motors since 1986. After subsequent divestments, Hyundai Motor Company owns just about one third of Kia Motor Corporation. while Hyundai Motor Company remains Kia’s largest stakeholder, Kia Motor Company along with retains ownership in some 22 alternating Hyundai Motor Company subsidiaries. previously 2005, Kia has focused on the European make public and has identified design as its “core cutting edge addition engine”leading to the hiring of Peter Schreyer in 2006 as chief design executive and his subsequent start of a supplementary corporate grille known as the ‘Tiger Nose’. In October 2006, Kia Motors America broke field 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. puff share. In August 2014, the company normal international attention as soon as 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 new vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile easy to get to ceremony of his introduction 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 before 1989 to summit that list.