Gibbs Sports Amphibians says its new Quadski, which can drive on land as well as in the water, will go on sale before the end of this year.

— WHAT IT IS: The Quadksi is a one-person all-terrain vehicle with four wheels that can retract into the vehicle when it goes into the water.

— SPEED: The Quadski can go up to 45 mph on land and up to 45 mph in water. It transitions from land to water mode in five seconds.

— COMPETITION: Gibbs says no other amphibious vehicle offered for sale has managed to go faster than 10 mph in the water.

— PRICE: The company says it will cost around $40,000.

— SALES: The company is expecting to sell about 1,000 Quadskis in the first year. Dealerships will be concentrated in New York, Boston, the Great Lakes, Florida and Texas.

— IDEAL CUSTOMERS: Individuals and families who like hunting and fishing as well as first responders and military.

— CHEERS: Until now, drivers might have spent hundreds of thousands of dollars to retrofit a regular car and make it go—slowly—on water. The Quadski vehicle has better technology, and its price tag puts it within reach of far more customers. The company also expects to make eight other personal watercraft. That should eventually bring down the costs.

— JEERS: It's hard to imagine many people paying $40,000 for it in the current economic climate.