Toyota showed the Yaris in Los Angeles a few days ago, now here is Honda's offering for the North American small car segment - the Fit. With Honda's formerly-small Civic moving upmarket, the company is targeting the Fit at first-time and cost-conscious buyers.

Aimed primarily at young buyers (the ones Mark Fields hopes to target with Ford's B-segment concept at the Detroit show), the Fit hits all the hot buttons: iPod capability, versatile cargo space, and fun driving dynamics.

Erin reports that the 1.5L 4-clinder VTEC engine puts out 109 hp/105 lb./ft of torque and is mated to a 5-speed manual transmission or an available 5-speed AT, which Honda claims is first-in-segment.  The Fit Sport will have wheel-mounted paddle shifters with the AT selection and a 160-watt six speaker audio system.  Fuel economy is rated at 33/38.

The Fit is expected to hit dealerships in April. More pics after the jump...