A multiple speed transmission includes first and second concentric input shafts, an output shaft, an auxiliary shaft, a first clutch for driveably connecting and disconnecting the first input shaft, and a second clutch for driveably connecting and disconnecting the second input shaft. First pairs of mutually engaged gears include a first member supported on the first input shaft, and a second member supported on the output shaft. Second pairs of mutually engaged gears includes a first member supported on the second input shaft, and second member supported on the output shaft. A gear wheel, supported on the auxiliary shaft, engages a gear of a second pair on the second input shaft. A planetary gearset includes a ring gear driveably engaged with a member of the first pair on the first input shaft. The carrier of the gearset is held against rotation in reverse drive and released in forward drive.