History of Kia Motors


Kia Motors Corporation (Korean: 기아자동차, IPA: [ki.a]), headquartered in Seoul, is South Korea’s second-largest automobile manufacturer, following the Hyundai Motor Company, with sales of over 2.7 million vehicles in 2012 and almost 2.75 million vehicles in 2013. As of December 2013, the company is 33.88% owned by the Hyundai Motor Company.

According to Kia Motors, the name “Kia” derives from the Sino-Korean words ki (“to come out”) and a (which stands for Asia), it is roughly translated as “arise or come up out of Asia” or “rising out of Asia”.

South Korea’s oldest car company, Kia was founded on June 9, 1944 as a manufacturer of steel tubing and bicycle parts by hand – and has operated as one of the country’s Chaebols since then. In 1951 Kia began building complete bicycles. In 1952, Kia changed its name from Kyungsung Precision Industry, and later built motorcycles (starting in 1957), trucks (1962) and cars (1974). The company opened its first integrated automotive assembly plant in 1973, the Sohari Plant. Kia built the small Brisa range of cars until 1981, when production came to an end after the new military dictator Chun Doo-hwan enforced industry consolidation, meaning Kia had to give up passenger cars and focus entirely on light trucks.

Starting in 1986 (when only 26 cars were manufactured, followed by over 95,000 the next year), Kia rejoined the automobile industry in partnership with 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 United States. The first Kia-branded vehicles in the United States were sold from four dealerships in Portland, Oregon in February 1994. Since then, Kia expanded methodically one region at a time. Dealers in 1994 sold the Sephia, and a few years later the United States line expanded with the addition of the Sportage. By 1995, there existed over one hundred Kia dealerships across thirty states, selling a record 24,740 automobiles.

However, during the Asian financial crisis, Kia declared bankruptcy in 1997; in 1998 Hyundai Motor Company acquired 51% of the company outbidding Ford Motor Company which had owned an interest in Kia Motors since 1986. After subsequent divestments, Hyundai Motor Company owns less than 50% of the company.

Since 2005, Kia has focused on the European market and has identified design as its “core future growth engine”—leading to the hiring of Peter Schreyer in 2006 as Chief Design Officer and his subsequent creation of a new corporate grille known as the ‘Tiger Nose’.

In October 2006, Kia Motors America broke 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. market share.

In August 2014, the company received international attention when 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 bigger attention than two other vehicles used by the Pope, their Kia Carnival and Hyundai’s Santa Fe, because it appeared in the high-profile welcoming ceremony of his arrival at the Seoul Airport on 14 August.

Hyundai Motor Company

The company is 33.88% owned by the Hyundai Motor Company.

Kia Motors Corporation

Kia Motors Corporation (KMC) was founded in 1944, is South Korea’s oldest manufacturer of motor vehicles and is now a subsidiary of the Hyundai-Kia Automotive Group. Over 1.5 million vehicles a year are produced in 13 manufacturing and assembly operations in eight countries which are then sold and serviced through a network of distributors and dealers covering 172 countries. Kia today has 33,255 full-time employees worldwide and annual revenues of over US$14.6 billion. It is the major sponsor of the Australian Open and an official automotive partner of FIFA – the governing body of the FIFA World Cup. Kia Motors Corporation’s brand slogan is “The Power to Surprise”. From August 2009 until December 2012, the company has been led by Hyoung-Keun (Hank) Lee. Kia also produces a Minivan series, the Sedona, similar in design to Hyundai’s Entourage that stop selling in 2008. Its cheaper that other vans in the market like the The Toyota Sienna,and the Nissan Quest.2006 started the outgoing generation. But in 2015 there will be a redesign.

 

Read more at Wikipedia


November 17, 2014

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