Honda unveiled its new HR-V crossover utility today at the Los Angeles Auto Show. The new CUV slides in between the CR-V and the Fit.

After a lengthy waiting period, Honda’s debuted its HR-V crossover utility. Designed to fit nicely below the CR-V and above, well, the Fit, the new model creates a clear hierarchy in the maker’s SUV line-up.

Originally hinted at with the 2013 Urban SUV Concept, Honda plans to put the new HR-V on sale shortly after its official debut here.

The new crossover utility borrows the same underpinnings as the aforementioned Fit and it may deliver nearly as much cargo and passenger space. In fact, Honda officials are counting on it. It has one of the largest interiors in the segment, and is one of the most flexible due to Honda’s “Magic Seats.”

It has “the capable stance of an SUV,” said Jeff Conrad, president of the Honda Division, who added the HR-V is “a virtual Swiss Army knife of efficiency, versatility and capability.”

Honda President Jeff Conrad called the new HR-V the "Swiss Army knife of efficiency, versatility and capability."

That flexibility comes in large measure from the Honda-exclusive Magic Seats, which allows for multiple seating configurations and the ability to fold the second row seat completely flat for added cargo space.”

The HR-V comes equipped with a 1.8-liter 138-hp I-4 VTEC engine that can be paired with either a CVT or a more sporty six-speed manual transmission. Since it’s almost an SUV, all-wheel drive is an option, but front-wheel drive is standard.

While fuel economy numbers weren’t provided, the Fit when paired with a six-speed manual or CVT, the Fit delivers an EPA-rated 33 mpg City, 41 Highway and 36 Combined. The HR-V is a bit heavier and less aerodynamic, so the mileage will likely be a few mpg lower.

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The HR-V will not only be flexible, it’ll also be well equipped, starting with the standard 17-inch wheels and tires and Hill Start Assist. Options for the new crossover include: navigation and 7-inch touchscreen that can be operated much like a smartphone, using touch, pinch and swipe as well as heated front seats and paddle shifters.

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Incidentally, if the HR-V name rings a bell, Honda actually used that nameplate once before, on a mini SUV it sold in some parts of the world between 1999 and 2006.

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The small crossover segment is becoming popular around the world – one reason why the HR-V first made its appearance at the Paris Motor Show. Such downsized crossovers are proving especially popular with young urban dwellers who want maximum flexibility within a minimum footprint for easier maneuvering and parking on crowded city streets.

Expect to see Honda position the HR-V against such other small crossovers as the new Chevrolet Trax and Jeep Renegade, as well as the recently updated Nissan Juke. That maker also appears to be working on an additional small CUV based on the Extreme Concept it is showing off at the Sao Paulo Auto Show in Brazil. Compact CUVs are expected to become the fastest-growing market segment in the world over the coming decade, analysts widely forecasted.

Paul A. Eisenstein contributed to this report.

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