Because now everybody needs an even smaller crossover.
There isn't any kind of internet rule for this idea yet, but we're rapidly approaching a reality where, as soon as you can dream up a new automotive segment, automakers will trip over themselves to make it happen. This is true no matter how ugly or seemingly unnecessary it is. And the hot item of late is the compact crossover, thanks mostly to the Nissan Juke. So now Honda has one too, called the HR-V, which shares a platform with the Fit.
The HR-V isn't exactly new, it debuted some time ago in Japan, and this is obviously not some wild concept that needed to be toned down for production. But there were still some things we didn't know, most importantly what sort of engine was going in it. There will be just one option, a 1.8-liter four banger which makes 138 horsepower and 127lb-ft of torque. There is the option of a CVT or a six-speed manual(!), although if you want the available all-wheel-drive, you'll have to take the CVT. It's actually a fairly attractive machine as well, especially compared to, say, the Juke, and you can see hints of the bigger CR-V in it too.