Kia is looking for a buyer for a leasing program it launched in January, but the company says the business is struggling to recover its lost revenue.
The automaker said it will close its leasing business by the end of April, ending its lease financing program in the U.S. and Canada.
The company also said it was looking to buy out the leases of some of its current and former owners.
The news was announced at the company’s annual shareholder meeting Tuesday.
The Kia brand is the brand that Kia stands for.
The U.K.-based automaker has a market cap of $4.8 billion, which is about 13% of GM’s.
The brand, which was founded in 1964, has a global brand recognition of more than $2 trillion.
Kia has a strong presence in the United States, where it has more than 60,000 employees and more than 40,000 dealerships.