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Honda's continuously variable transmission (CVT) is a transmission in which the ratio of the rotational speeds of two shafts, as the input shaft and output shaft of a vehicle or other machine, can be varied continuously within a given range, providing an infinite number of possible ratios.
The continuously variable transmission should not be confused with the power split transmission (PST), as used in the Toyota Prius and other hybrid vehicles that use two or more inputs with one output, despite some similarities in their function.
A CVT need not be automatic, nor include zero or reverse output. Such features may be adapted to CVTs in certain specific applications.
Other mechanical transmissions only allow a few different discrete gear ratios to be selected, but the continuously variable transmission essentially has an infinite number of ratios available within a finite range, so it enables the relationship between the speed of a vehicle engine and the driven speed of the wheels to be selected within a continuous range. This can provide better fuel economy than other transmissions by enabling the engine to run at its most efficient speeds within a narrow range.
CVTs have been refined over the years and are much improved from their origins.

Find helpful info on Honda Gearboxes here:

Honda Accord Gearbox
Honda Aerodeck Gearbox
Honda Beat Gearbox
Honda Civic Gearbox
Honda Concerto Gearbox
Honda CRV Gearbox
Honda Element Gearbox
Honda HRV Gearbox
Honda Insight Gearbox
Honda Integra Gearbox
Honda Jazz Gearbox
Honda Odyssey Gearbox
Honda Beat Gearbox
Honda Pilot Gearbox
Honda Prelude Gearbox

There are different types of continuously variable transmission (CVT):
1) A specific type of CVT is the infinitely variable transmission (IVT)
2) Ratcheting CVT
3) Roller-based CVT
4) Hydrostatic CVT
5) Hydristor IVT
6) Simkins' Ratcheting CVT

Advantages and drawbacks:
CVTs can smoothly compensate for changing vehicle speeds, allowing the engine speed to remain at its level of peak efficiency. They might also avoid torque converter losses. This improves both fuel economy and exhaust emissions. However, some units (e.g., Jatco "Extroid") also employ a torque converter. Fuel efficiency advantages as high as 20% over four-speed automatics can be obtained.
CVTs have much smoother operation. This can give a perception of low power, because many drivers expect a jerk when they begin to move the vehicle. The satisfying jerk of a non-CVT can be emulated by CVT control software though, eliminating this marketing problem.
Since the CVT keeps the engine turning at constant RPMs over a wide range of vehicle speeds, pressing on the accelerator pedal will make the car move faster but doesn't change the sound coming from the engine as much as a conventional automatic transmission gear-shift. This confuses some drivers and, again, leads to a mistaken impression of a lack of power.
Most CVTs are simpler to build and repair.
CVT torque handling capability is limited by the strength of their belt or chain, and by their ability to withstand friction wear between torque source and transmission medium for friction-driven CVTs. CVTs in production prior to 2005 are predominantly belt or chain driven and therefore typically limited to low powered cars and other light duty applications. More advanced IVT units using advanced lubricants, however, have been proven to support any amount of torque in production vehicles, including that used for buses, heavy trucks, and earth moving equipment.

New automobiles equipped with CVT
Honda Civic HX 1.7 L 4 cyl
Honda Civic Hybrid 1.3 L 4 cyl
Honda City 1.5 L
Honda HR-V 1.6 L
Honda Insight 1.0 L 3 cyl
Honda Jazz 1.4L
Honda Fit 1.3 L/1.5 L
You will find other make are fitted with CTV such as some of the Mercedes Benz, Ford, Lexus, Audi, Fiat, Mitsubishi and more.