A transaxle transfers torque to first and second axle shafts. The transaxle includes a main shaft, a planetary gearset, a first clutch transferring torque between the main shaft and a first member of the planetary gearset and a second clutch transferring torque between the main shaft and a second member of the planetary gearset. An input shaft is fixed for rotation with the first member of the planetary gearset. A countershaft is selectively driven by first, second, third and fourth speed gearsets associated with the input shaft. A final drive unit provides multiplied torque to a differential assembly adapted to drive the first and second axle shafts. Actuation of the first and second clutches selectively provides first through eighth discrete forward drive ratios such that each of the first, second, third and fourth speed gearsets transfers torque during provision of two of the first through eighth forward drive ratios.