NEW YORK (TIP): World’s first flying car, developed in 1949 by an American designer, is up for sale for nearly $1 million. Developed by inventor Moulton Taylor, the unique Aerocar could not only fly, it was designed to drive on roads, too. The flight system could be removed and towed by the car, then easily reassembled. The car which cruises at a 177 kph has foldable wings to keep it a street-worthy size is now on sale for $938,340.

The 21-feet Aerocar is a two-place aircraft with sideby- side seating, four wheels, 30-feet wingspan and a single Lycoming 0-320 engine mounted over the rear wheels. The Aerocar was set to take the world by storm but after almost 25 years of campaigning Taylor still could not strike a deal – he even lost a deal with auto giants Ford, the New York Daily News quoted Caters News agency as reporting.