Two engines (1.3 i-DSI and 1.5 VTEC) were initially offered, each with a number of trim lines ranging from the basic "Y" to the sporty "S". The 1.3 L i-DSI was available with only the regular CVT automatic. 1.5 L VTEC models are available with either the 5-speed manual, or the CVT-7, but manual is available only FWD models. Unique to the Japanese market, the Fit is also available in 4WD. Starting at a price of about JPY1,123,000 is the basic 1.3Y model. At the top of the range is the 1.5W four wheel drive version for JPY1,743,000. A bewildering range of options and accessories are available at most levels, including Honda's HDD GPS Navigation System with its 6.5 inch color screen. This system incorporates TV and FM radio.

Japanese sales of the Fit exceeded the original sales target of 8,000 units on debut. By December of 2001, it had outsold the Toyota Corolla, and it ranked first in sales for nine out of twelve months in 2002. The new generation Honda Fit will debut in the 2007 Tokyo Motor Show in October 2007.