Goddard Enterprises Limited opened its fiscal 2026 on a troubled note in its automotive arm, reporting a “disappointing” first quarter to December 2025 – a setback that cast a shadow over an otherwise strong full-year performance and raised questions about the timeline for returns on a new Chinese-brand bet in Jamaica.
“Looking ahead to fiscal year 2026, the division will focus on accelerating the roll-out of GAC vehicles, expanding into the
Jamaican market and strengthening its position in the SUV segments,” stated Goddard.
The December quarter was hit by two external shocks. Hurricane Melissa disrupted deliveries and showroom traffic in Jamaica, the division’s largest market, while system failures at the Barbados Licensing Authority constrained vehicle registrations on the group’s home island. Together, the disruptions squeezed conversions at a moment when Fidelity Motors – Goddard’s Jamaican automotive subsidiary – had just launched GAC Motor, a Chinese marque, in late 2025.
“The Automotive Division had a disappointing quarter. Our two major markets were negatively impacted by Hurricane Melissa in
Jamaica and system issues at the Barbados Licensing Authority,” stated Goddard in its financials.
The conglomerate made BDS$36.4-million profit (US$18.2 million), compared to BDS$22 million (US$11 million), a year earlier. The automotive division was not dissaggreated.
The stumble in the opening quarter followed a difficult full year. For the 12 months to September 2025, Goddard’s automotive division reported revenue of BDS$122.1 million (US$61 million), up 3.0 per cent, while operating profit fell 55 per cent to BDS$2.28 million, or some US$1.1 million. Directors attributed the decline to deliberate inventory reductions, higher finance charges tied to the regional GAC roll-out, and a BDS$1.3-million (US$650,000) investment-property revaluation loss. Sales held in Barbados but declined in Jamaica.
“The Automotive Division faced a challenging year characterised by low vehicle sales in our two main markets, Barbados and Jamaica. The performance was
also impacted by efforts to reduce inventory levels, increased finance charges associated with the launch of the GAC brand of vehicles in all our markets,” stated Goddard.
The weakness in autos stood in contrast to the broader group’s performance. Goddard reported full-year revenue of BDS$1.85 billion (US$925 million), up 38 per cent, and net income of BDS$76.8 million (US$38.4 million), a 46 per cent rise, driven by improved manufacturing margins.
In Jamaica, the automotive division operates through Fidelity Motors Limited, the long-time Nissan distributor anchored at Hanover Street in Kingston. Seeking growth beyond a maturing Nissan line-up in an increasingly crowded SUV market, Fidelity added GAC Motor under an exclusive arrangement backed by GEL Auto and regional distributor Motorworld. The five-model launch – spanning the GS3 Emzoom, Emkoo, GS8 full-size SUV, Empow sport sedan and Aion V electric vehicle – was designed to deliver technology-forward features and lengthy warranties at competitive price points.
Executives openly addressed consumer scepticism towards Chinese marques, pointing to GAC’s engineering ties with Toyota and Honda through long-standing joint ventures in China. A seven-year, 250,000-kilometre warranty and smartwatch vehicle-control features were positioned to reduce the perceived risk of buying an unfamiliar brand.
The strategic logic is clear: broaden the portfolio in small and mid-size SUVs, where buyer demand is concentrated, and use GAC to fill gaps where legacy brands under-index on hybrids, electric vehicles and high-specification infotainment. Management says a five-year plan is under way to lift competitiveness and operational efficiency across the auto segment.
The timing, however, has proven challenging. Introduction costs have preceded any meaningful revenue contribution, and Jamaica’s hurricane-related disruption likely delayed the conversion of test drives into registered sales during the critical December quarter.
The broader competitive landscape has grown more difficult still. Chinese brands have arrived in force in Jamaica. GWM/Haval, BAIC/Beijing, Jetour, MG, BYD and Changan have all entered or expanded, reshaping the value end of the SUV market with aggressive pricing and long equipment lists. Changan Jamaica opened on Old Hope Road with models including the Hunter pickup; BAIC’s/Beijing arrived via Jetcon with the X35 crossover and others. The competitive set Fidelity now faces with GAC extends well beyond Nissan’s historic peer group, intensifying pressure on price, warranty and feature content.
neville.graham@gleanerjm.com
