Alright, now I have always been one to push for Back to the Future technology - I want my flying car, Mr. Fusion, and 2-second rehydratable Pizza Hut as much as the next man. This isn't quite what I had in mind though.
Allow me to submit for your critique: the Skycar (full article here). The makers would like to take this car from London to Timbuktu, driving halfway and flying the rest. While they do get props being that it is a production model car that flies and for choosing Timbuktu as a destination, I can't say I'm totally sold. It's got a hefty price tag (50,000GBP), which is to be expected for a first of its kind sort of thing, and it doesn't hover.
This of course prompted me to search for the "Skycar", which led me to something I see as much more appealing - the Moller M400X Skycar. Read up on this thing as it looks absolutely badass. The manufacturer's performance estimates? Max speed over 300mph with fuel consumption over 20mpg running on ethanol, and all on the power of a bunch of rotary wankel engines. It's like a super-Mazda - Great Scott!! I'll hold out for this one I think.
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