The present invention is directed to a continuously variable transmission that includes an input shaft, an output shaft, multiple planetary gear assemblies and a hydraulic system including a pump, a motor and a valve. Two of the planetary gear assemblies, in conjunction with the hydraulic system, work as a speed variation mechanism and as a braking device. A third planetary gear assembly multiplies torque. A sub-transmission serves as the range device, providing for forward or reverse rotation of a final drive shaft or alternately a neutral position wherein there is no rotation of the final drive shaft. In one embodiment, first, second and third planetary gear assemblies, the output shaft, a one-way clutch, the final drive shaft, the hydraulic pump and the hydraulic motor all have an axis of rotation that lies coaxially with a primary axis of rotation of the input shaft.