U.S. hybrid boom drives Toyota and Honda profits
TOKYO -- Hybrid vehicles are gaining traction in the U.S. thanks to improved fuel performance, enabling Toyota Motor and Honda Motor to cut sales incentives for popular models in a boost to their profits.
Sales of hybrids totaled roughly 106,000 in February, up 54% on the year, according to U.S. research firm Motor Intelligence. Their share in total sales also rose to over 8% from around 5% a year earlier.