Here is something that most parents have been waiting for for years. A car that is programed so as to let parents control what their children can do. No, this car will not allow parents to control where the car can go. Library, Yes. Movies, No. Not yet anyway.

John Marshall Mantel for The New York Times

Ford has revolutionized the relationship between parent-car-and child. This new product illustrates that Ford is regaining the mantle of pioneer in the automotive industry. It is called MyKey.

The way it works is simply. A car comes with two keys. Parents get one which allows them to place restrictions on the car and the child get the other key; the latter is the MyKey. The parents plug in, so to speak, their administer key into the ignition. A display then comes up on a monitor in the car. The parents can then set the restrictions and then those restrictions are wirelessly updated onto the MyKey. When the driver puts the MyKey into the ignition the car will activate those restrictions.

What type of restrictions? Parents can set up speed limits. Currently the only speed limit is 80 m.p.h. Parents are then instructed to provide forewarning when the driver is approaching that limit. When the driver reaches that warning speed [45, 55, or 65 m.p.h. are the only warning speed], the car will beep.

Parents can also limit the stereo sound to 44% of sound level. The MyKey also allows parents to mute the stereo until the driver and front passenger have put on their seat belts.

Then there is distance monitoring. Sure, you could do this the old-fashioned way by writing down the odometer before the car is taken out. But parents may forget. MyKey allows parents to upload the distance traveled by the car.

All well and good for parents, but what about teenagers. According to a survey, 64% of American teens would not mind the MyKey if it meant more access to their parent’s cars.