B.M. Soat Auto Sales & Rentals has issued a statement addressing recent media reports published by Demerara Waves Online News that reference the company, expressing concern about the use of unnamed sources and what it described as speculative claims.
In its release, the long-established automotive dealer said it respects the role of the media but noted that the reports in question relied on anonymous sources, made broad allegations without identifying individuals, and were published without affording the company an opportunity to respond. According to the company, such reporting risks creating public misunderstanding and falls short of balanced journalistic practice.
The company emphasized that it operates strictly within the laws of Guyana and conducts its business with integrity. It stated that, as a matter of principle, it does not engage in speculation or debate unverified claims in the public domain.
Placing facts on record, the company highlighted its contribution to Guyana’s economy, noting that it is among the country’s leading automotive dealers. In 2025 alone, the company reported selling more than 1,500 vehicles through established regulatory channels. Over the years, it said it has paid billions of dollars in taxes and duties, underscoring its position as a responsible taxpayer.
The statement also pointed to the company’s investment in people, explaining that its business model prioritizes access and opportunity. It offers vehicle ownership options with down payments as low as $500,000, absorbing risks that many dealers, banks, and financial institutions avoid. The company said this approach has enabled thousands of Guyanese to improve their mobility and livelihoods.
Addressing operational challenges, the company acknowledged persistent defaults and resistance to lawful repossession, issues it said are common within the hire-purchase and financing-based business environment. These challenges, it added, highlight the need for responsible public discourse and an appreciation of the complexities involved in the sector.
The company concluded by stating that it does not condone misconduct in any form and reaffirmed its belief that public confidence is best served by verified facts, fairness, and due process rather than conjecture or anonymous commentary.
The statement was issued by management of B.M. Soat Auto Sales & Rentals.
