If you opt for the continuously variable transmission, the 2013 Honda CR-Z gets a combined EPA fuel efficiency rating of 37 mpg (36 mpg city, 39 mpg highway). The six-speed manual gearbox, which is far more fun to drive, brings that combined rating down to 34 mpg (31 mpg city, 38 mpg highway). These ratings are marginally better than those of the 2011 and 2012 models, but they're far from the top of the heap for hybrids.
So in absolute terms, the Honda CR-Z gets quite good but not record-breaking fuel economy. The challenge is that if you're buying for its efficiency, you're giving up a lot of space for people and goods. The Toyota Prius C subcompact, for instance, gets a combined 50-mpg rating, and even Honda's own Insight--like the Prius C, a five-door subcompact hatchback--is rated at 42 mpg combined.
And unlike the Prius C, the CR-Z's mild hybrid system compromises the driving fun that you would expect from a sporty two-seat hatchback coupe. The CR-Z is as heavy as the more efficient Insight, but holds half as many people and less luggage. In trying to strike a compromise among sporty styling, the character of a coupe, and the fuel efficiency of a hybrid, the Honda CR-Z ends up excelling in none of those qualities.
Which means that you really have to want a small two-seat hatchback that also gets 34 to 37 mpg to put the CR-Z at the top of your shopping list.