Jetcon doubling down on Chinese cars with Arcfox – an electric car

Jetcon Corporation is accelerating its push into Jamaica’s new-vehicle market, buoyed by a surge in earnings from its dealership operations and growing customer acceptance of Chinese automotive brands.

The junior market company, which has transformed itself from a used-car dealer into a distributor of new vehicles, reported that it will soon launch BAIC’s Arcfox line of electric and plug-in hybrid vehicles, adding another layer to an expansion strategy that has already seen the introduction of the X55, BJ34 and BJ40 models.

The move comes against the backdrop of a standout June quarter in which Jetcon nearly doubled profit and posted an 88 per cent jump in revenue. Net profit climbed to $65.3 million for the three months ended June 2026, up from $33.1 million a year earlier, while revenues surged to $428.4 million from $227.4 million.

CEO Andrew Jackson says the performance vindicates the company’s shift from used cars to new cars.

“Without a doubt; for one, this is our best first half of the year that we’ve ever had in Jetcon’s history in terms of sales numbers. In terms of profit, this has been our best first half and if things continue, it’s gonna be our best year yet. So, that alone tells you that shift was a necessary shift,” Jackson told the Financial Gleaner.

Year-to-date performance was even stronger. Revenue doubled to $845.3 million, compared with $423.8 million in the corresponding six months of 2025, while net profit tripled to $123.9 million from $41.8 million. Earnings per share rose to 11 cents for the quarter and 21 cents for the six-month period.

Jackson attributed the gains primarily to the new-car dealership business, which has become the company’s principal growth engine. The company’s investment in the solar energy market also contributed to revenue and profitability, though motor vehicle sales accounted for the bulk of earnings.

The latest phase of the strategy centres on Arcfox, a premium electric vehicle marque that Jetcon believes can capitalise on growing interest in alternative-energy transportation. Arcfox is a Chinese electric vehicle brand owned by BAIC BluePark, a subsidiary of BAIC Group, and co-developed in partnership with automotive supplier Magna. Founded in 2017 and headquartered in Beijing, the marque specialises in high-end, smart electric passenger cars and SUVs utilising advanced digital cockpits and autonomous driving technology.

Two Arcfox models, the T1 and T5, are currently being tested ahead of their market introduction. One unit of each model is already available locally for prospective buyers to test-drive, with commercial availability expected later this year.

“The response has been positive, we have gotten a few orders. We don’t have them for sale as yet, we just have them for testing. We’ll get our first shipment in September, but we have already sold some of those units. So, the response has been very positive. We’re going to have them, and these are small SUVs starting at less than four million dollars,” Jackson said.

“We are definitely going full speed ahead with electric cars. We think the time is right, with the energy crisis that we continue to experience, so the demand for electric cars in Jamaica has increased; the demand worldwide has increased since this whole energy crisis,” he added.

The expansion underscores the company’s growing confidence in Chinese vehicle brands, which have gained traction in Jamaica as consumers seek newer technology and competitive pricing. Jetcon has steadily deepened its partnership with BAIC, broadening its portfolio beyond conventional internal combustion vehicles into hybrid and fully electric offerings.

Jetcon’s financial position also reflects the expansion. Inventories climbed to $603.2 million at June 2026, more than double the $301.2 million reported a year earlier, as the company increased vehicle supply to meet anticipated demand and counter logistical delays. Total equity rose to $895.7 million from $718.3 million.

“It is very necessary to have a buffer stock. From time to time, all kind of madness happens with shipping and the whole business of transporting things from the Far East to this side of the world. We have seen it many times, so having a buffer starts playing with that long lead time,” Jackson explained.

For Jetcon, the Arcfox launch represents more than the addition of another brand. It is a bet that the same Chinese manufacturers helping to drive its earnings growth today can also position the company at the forefront of Jamaica’s emerging electric vehicle market.

neville.graham@gleanerjm.com