Hello CrashnBurn !. Upon last chat, with my service tech ( Mechanic), he mentioned HYUNDAI now owns KIA.
Not quite, they owned part, but not all of KIA. KIA went into bankruptcy in the recent past few years, and Ford actually looked into buying the facilities and manufacturing. I think the debt load was way more than the asset value, so in anycase, Ford took a pass. Renualt or Peugeot also looked at KIA, and they too took a pass on them. Eventually the gov't prevailed and inticed Hyundia to take over operations and the gov't took over the debt. I have no idea what Wiki says about this. Maybe I'll look in a little while.Squishy said:Couple of years? I thought Hyundai has owned KIA since the 50s or 60s when KIA went bankrupt.
Hyundai brought the KIA brand to North America to take over for what Hyundai used to be (budget economy car) and that's when they really started working on Hyundai's build quality and reputation. Now I hear that KIA may be spun into Hyundai's performance branch sometime in the future.
Fascinating. So before the italian firm, you might almost of had a Korean Chrysler firm, if Hyundai would have scored it.jonas1022 said:I dunno, it would seem the big picture has changed for all the automotive players.
I would think that given the current situation where KIA can only sell a vehicle if it's deeply discounted as a sign that their days maybe numbered. As for Hyundia, I think they were getting ready to be in a position of power and take over Chrysler. Now it's Fiats turn. Fix It Again Tony!
Were you ever at a US Suzuki dealer about 4-5 years ago? I believe the ill-failed Forenza, Reno, and Verona were all Daewoo-based. I actually drove a Forenza, and considered buying one. I'm so glad I didn't. I was leary of their origin.stone said:What happened to " DAE WOO ?. :drool: :lol:
Not as yet Latan. But thanks for that video link.latan said:Hi Stone,
The new Holden Cruze is built in Korea. So I suppose that would be from the old Daewoo factories.
And have you seen the current Hyundai iLoad tv ad.