JY says: "The Honda Fit is a great car whose
only drawback is a steep and inflexible price in a class that sells on price."
I'll admit that's the primary drawback for consumers, but the next sentence uncovers some pretty big ones too:
JY: "While other vehicles in the segment pile on the features (Accent, Rio) or offer multiple body styles and more power (Sonic, Fiesta)"
The lack of options (either "feature" options, body style options, or engine options) is starting to kill the Fit. 3-4 years ago folks would overlook the fact that they couldn't get a sunroof or heated seats or a USB connection in the base model (or a sedan bodystyle or engine upgrade, etc.), because the competition was either terrible - average (Aveo, Yaris, Accent, Rio, Versa) or non-existant (no Mazda2, Fiesta, Sonic). But now there is great competition in the sub-compact class, and Fit sales are lagging accordingly:
http://www.goodcarbadcar.net/2012/10/september-2012-canada-car-sales-figures.html#moreWhile the Fit sales are doing much better than last year, it's still far behind the mainstream subcompacts and is even outsold by the Mini Cooper and Fiat 500. Building the vehicle in China may turn off some folks, but obviously (most) folks in North America aren't willing to pay the premium required to produce it in Japan, either.
I hope Honda can give the Fit the update it deserves, because the interior packaging is awesome. And we have to thank the Fit, in no small part, for the current crop of excellent subcompacts - Honda showed the other MNFRs that small cars sold in North America don't have to suck!