Now this is exciting news! According to this Cnet article the 106 MPG air car will be arriving in the US in late 2009 or early 2010.
From the article: "According to its initial, estimated, specifications the Air Car will go 848 miles on an 8 gallon tank of gas. The size of the compressed air tank isn't included in the specifications. Further, the car has a top speed of 96 mph, with its power plant putting out 75 horsepower. When traveling at low speeds, the car has zero emissions, while in high speed mode it has some emissions because of its use of gasoline. "

I would love to have one of these and the more I learn I would be happy to use this for more than tooling around town. The idea of going from SLC to Vegas and Back on one tank is very appealing!
Directly from the Air Car website on price: "We estimate the cost of purchasing a six-seater, 75hp Air Car will be approximately $17,800, proving that buying "green" doesn't have to cost more. Not only is the price amazingly affordable, but it will cost you up to five times less in fuel consumption than an equivalent gasoline powered car. The Air Car is a totally new breed of cars entirely conceived to achieve low prices:" At that price it is only $600 more than my Scion Xb.

via: Cnet and Zero Pollution Motors