Honda, a car company that already keeps its competitors up late at night worrying, is now giving them cause for another sleepless night with the all-new 2009 Honda Fit.

Maybe it's because it's got so much value and flexibility built in. Maybe it's because the new Fit manages to improve upon the already stellar first generation model which has only been on the market for two years.

Who knows? But I think the competitors better keep worrying.

For starters, I can't think of a single thing that people need in a car that this one doesn't have.

First it's got lots of room for your family, considering its size. Second, it's flexible. I know of at least two people who have folded down the front seat and the back seat down and somehow managed to camp out -- and nicely so -- in the car.

Add to that the fact that the Fit has sporty, fun-to-drive characteristics; excellent fuel economy; and a pleasant, almost luxurious ambience throughout, and you've got a winner.

If you want to picture all of what I've said in your mind, think of the Fit as a top-of-the-line Accord that has been shrunk on the outside, with a new exterior built around the Accord interior. This wasn't the case, of course, but you get my point. The Fit is an unusually luxurious, roomy sedan that the whole family will love.

The new Fit is priced from $15,220 to $19,430 for a top-of-the-line Sport model that has navigation, a five-speed automatic with paddle shifters, and stability control, which is available only on the top of the line model. That last point is the only thing that bothers me about the Fit. I think stability control is so important that it should be offered across the model lineup, preferably as standard equipment.

Now, more about that wonderful back seat. The lift of a handle under each side -- it takes about two seconds -- and a gentle push to the two cushions locks them into place and allows you to use a big behind-the-front-seat area for carrying bulky large packages.

And the underside of the cushion that is raised has a nice, lidded storage area for things you want out of sight.

Power comes from a 1.5-liter four with 117 horsepower -- up eight horsepower. On most roads, that engine is a wonderful performer, with plenty of get up and go and energy for highway driving. It handles like it's on rails, too -- corners are a lot of fun on the Fit.

Depending on which model you buy, base or sport, your gas mileage will be about 33 to 35 miles a gallon highway and 29 to 31 in city driving.

There's not much new on the rest of the Honda lineup. The Accord gets slightly more horsepower in its V-6, moving up from 268 to 271 horsepower, the Civic sedan now has the same steering wheel as the coupe model, and you will get USB/iPod ports on the Civic, too. There's also new special edition sedans in the Civic lineup.