Toyota and Honda reap rewards from U.S. hybrid boom

Japanese automakers reduce dealership incentives on strong sales

20240323N Toyota Camry

Camry hybrids are selling well in the U.S. market. (Toyota)

TATSUO MATSUURA, Nikkei staff writer

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 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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