The Asian financial crisis in 1997 led to Kia becoming bankrupt and ultimately resulting in the Hyundai Motor Company acquiring a 51% stake in the company. However, Kia soldiered through it and went on to become the world’s 20th largest automaker by the mid-nineties. The 90s had seen Kia suffering from the labour union strikes, domestic trade barriers and the struggle for independence. This step stemmed from Ford’s agreement with Kia, making Kia the supplier of the Ford Festiva. The US had the world’s largest car market. Kia’s turning point then came in 1987 when they began shipping cars to the US. To date, Kia remains to be the second-largest vehicle manufacturer, after the Hyundai Motor Company. Kia Motors was selling 300,000 cars by the mid-eighties making them the second largest South Korean automaker. Only Kia, Hyundai and Daewoo were permitted to manufacture cars. The government than set limits on vehicle manufacturing, fearing the speedy growth of the industry. Throughout the 80s Korea continued working on becoming an exporting country, as per the presidents economic plan. The first models to be produced were the Peugeot 604, Fiat 132, followed by a Kia Brisa. In 1974 they began their production of motor vehicles. Kia then worked on building their first fully integrative automotive plant, which was completed by 1973. That in turn allowed Kia to compete as an exporter of whole vehicles. The company was heavily dependent on imports but slowly began learning from its suppliers and started developing its own technology. By 1962 Korea’s residing president Park wanted them to focus on trucks and industrial goods instead. The brand name was then representative of the fact that it “came out of Asia” or “the rising out of Asia.”īy the late 50s, Kia then began producing motorcycles. Kia derives from the Sino-Korean word “ki” which means “to come out” and “a” signifying Asia. Toward the end of World War II, the company was hand-manufacturing steel tubing and bicycle parts. Kia also manufactures other transportation vehicles like busses, delivery vans and loaders.įrom the beginning of the company’s start, they have been headquartered in Seoul, is South Korea. The Kia Motors Corporation are manufacturers of passenger vehicles, sports utility vehicles, light commercial vehicles, and trucks. Renewed yearly by completing scheduled maintenance services at Kia Dealerships (up to maximum 8 years).Terms and conditions for Warranty, Capped Price Servicing and Roadside Assistance can be found at Motors was founded in 1944 under the name Kyungsung Precision Industries. Complimentary Roadside Assistance for the first year. Kia’s Unlimited kilometre 7 Year Warranty is in addition to your rights under the Australian Consumer Law.Capped Price Servicing: Maximum payable for specified number of manufacturer's standard scheduled maintenance services up to 7 years or 105,000kms, whichever occurs first. Kia's Unlimited kilometre 7 Year Warranty Note: 7 year/150,000 km warranty for vehicles used for the following: rental vehicles, hire cars, taxis, courier vehicles, driving school vehicles, security vehicles, bus and tour vehicles. Kia reserves the right to change prices without notice. See your participating Kia dealer for full terms and conditions. Optional extras and/or accessory prices are not included. Individual Kia dealers may charge more or less than this estimated price and Kia does not warrant that the drive away estimate is the price that individual Kia dealers may charge. Actual drive away price may vary depending on your state, choice of dealer, individual circumstances and choice of insurer. Excludes government, fleet and rental buyers. 'Drive Away Estimate’ displayed includes Kia’s recommended retail price, luxury car tax, 12 month’s registration, 12 month’s compulsory third party insurance cost estimate, stamp duty, and an estimated dealer delivery charge.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |