TOKYO — Hybrid vehicles are gaining traction in the U.S. thanks to improved fuel economy, enabling Toyota Motor and Honda Motor to cut sales incentives for popular models in a boost to their earnings.
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.
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