May 27, 2020

Auto Parts In The Forefront Of The Korean Auto Boom Wave

Auto Parts In The Forefront Of The Korean Auto Boom Wave

From a humble beginning being a maker of bicycles in Korea, Kia automobiles today prides itself on becoming among the best automotive manufacturers on earth. It has achieved remarkable success as being a maker of high-quality and affordable automobiles. Besides, Kia parts have proved their mettle as a dependable player in the aftermarket for replacement and maintenance.

The Korean automobile industry, as also Korean automakers, has achieved unusual success, although the industry may be sandwiched between high-profile, high-priced Japan and newly emerging low-priced China.

Great Prospects In The Horizon For Korean Auto Parts Industry

Boom time is across the corner for the likes of Kia parts. Nearly 70 percent of U.S. buyers have shown their willingness to boost their purchases of South Korean after the Korean-US free trade agreement arrives into effect. The free trade agreement once ratified by the legislature of both countries will almost eliminate tariff barriers and offer protection to multinational financial sectors and firms like Kia parts. The key reason cited by U.S. automakers is the price competitiveness with the parts and uncompromising strict quality requirements. Under the Free Trade Agreement signed in November 2010, the United States will immediately lift all tariff barriers from South Korean auto and gradually phase out the tariff on South Korean automobiles. The makers of Kia parts are upbeat because this agreement is expected to markedly improve sales to the United States in the long term.

Why This Beeline towards the Korean Industry?

To discover why America is setting up a beeline to Korea, you firstly need to have a peek at South Korea’s automotive and auto industry. The Korean auto industry today could be the fifth largest in the world regarding production and sixth largest when it comes to export volume. Almost all makers, including Kia parts, are benefitting from this unprecedented surge in growth.

What Is The Reason?

We all know once Korean auto products were regarded as unreliable given that they were mundane, cheap, and without quality, but not anymore. Although considered to be inferior within the past, Korea has now shrugged off that second-rate image and contains trapped with all the best manufacturing standards on earth. This was a great revolution in the Korean automobile industry. As the exports of makers like Kia automobiles surged ahead, so did the volumes of car parts. Not surprising, because the likes of Kia parts were quick to adapt themselves to the changing conditions inside the automobile industry. For example, Korean parts makers realized the singular benefit from finding yourself in close interaction with the automakers, which gave them a lead time of being quick in upgrading many regarding both quality and innovation.

Kia owns a niche market in the United States. This confidence continues to be driven no less with the availability of Rio, the least expensive four-door sedan for the well-accepted compact SUV Sportage. Besides, Kia has always ensured that safety factors are best, from the comfort of the look for the manufacturing stage.