BEIRUT: Several car rental companies were forced to sell fleets to avoid losses in 2012, the Car Rental Offices Association said in a statement.

In response to upbeat remarks by Tourism Minister Fadi Abboud, the association said although the minister was correct that no company revoked their licenses, this did not mean the sector evaded one of the slowest years for tourism.

“[Gulf Cooperation Council] tourists comprise 35 percent of tourists, but more than 60 percent of our income,” the statement said. “The rental of one large car yields 10 times more than an average small car.”

The association denied that its members charge tourists higher prices, saying that Lebanon has some of the lowest car rental fees in the region.