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Kia Motors ( 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 1.6 million vehicles in 2012. As of June 2012, the company is 32.8% owned by the Hyundai Motor Company, the fourth largest automotive group in the world based on annual vehicle sales in 2012 after Toyota, General Motors, and Volkswagen AG. Since December 28, 2012, the company has been led by Peter Schreyer.