Fleet News

Hyundai forms team to shape Kia future

IT could be six months before Hyundai announces the outcome of a major study as to how the company will be structured following its recent acquisition of rival Korean company Kia. Hyundai bought its struggling competitor last year and a Hyundai spokesman told Fleet NewsNet a special integration division with representatives from both companies had been established.

The team, led by Hyundai staff, is looking at the future development of both Hyundai and Kia including product lines, production facilities, marketing and distribution. Distribution discussions will see the integration team discuss with current distributors around the world the strategy for individual markets. In the UK Kia's distribution franchise is owned by Inchcape, while Hyundai's UK network is run by Lex Service.

The Hyundai spokesman said: 'We are six months away from seeing what the future structure and operation of Hyundai and Kia will be globally. But Kia as a brand will remain because Kia is strong in its domestic market and in the United States and we don't want to lose the brand. In the UK, where Kia does not have such a strong presence, nothing has been decided but there will be discussions between Kia distributors and Hyundai Corporation UK before any decision is taken.'

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