Here's a quote from George Gruhn:
Goya was a trade name used on guitars the Levin Company of Sweden exported to the USA in relatively large quantities. The Levin Company dates back to the turn of the century. It made high-quality acoustic flattop steel-string and classical guitars as well as archtop jazz guitars and mandolins. The instruments were sold in Europe under the Levin brand name. During the 1960s some Goya-brand electric guitars were made by Eko in Italy. Many of these had bodies covered in brightly colored plastic imitation pearl (pearloid).
The Levin Company was acquired by the C.F. Martin company during the early 1970s. After a short period of time, Martin closed the facility. Martin retained the Goya brand name and used it on a line of guitars it imported from Korea until the end of 1996. Martin still owns the Goya name but as of January 1, 1997, Goya guitars, mandolins, and banjos are no longer being offered. The Levin-made Goya guitars are of good quality, although in my opinion they are not on a par with the finer American instruments made by Martin and Gibson. Today, they tend to sell for prices that reflect their utilitarian value rather than any collectors' item appeal.
--George Gruhn