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I understand manual and automatic transmission, but I really don't understand what CVT is - other than continuously variable transmission.

But what does that actually mean? What does it look like in practice? Is it glitchy and prone to faults?

What is the most reliable kind of transmission?

Hi there,
The CVT in a nutshell is a 'one-speed' transmission, and usually makes the engine feel like it's revving a lot more as the speed increases, compared to a conventional transmission.
It's great for saving fuel and supposed to be smooth, but they can also be a bit weak or have shuddering type problems (Nissan and Honda mainly 2000-2010ish)
Earlier CVT's had a very low tow rating and it's not really advised to tow much with them at all. It's the type of thing you either love and can accept or hate and stay away from.
Subaru make one of the best CVT transmissions, and some manufacturers are now putting small turbo engine with the CVT with fantastic results (Honda CRV)
A Manual is ultimately the reliable one and is usually inly damaged by driver error. A conventional auto for import vehicles would possibly be more reliable than a CVT, for new vehicles it could be hard to pick a winner really.

Thank you - good information re the imports and new vehicles. So is 2013 CVT getting better or possibly still stay away from it?

The newer transmissions are getting better and we hear of less problems as opposed to the pre 2010 ones. And in some cases it may be too soon to tell.