  A new single lane car following model of traffic flow is presented. The model
is inertial and free of collisions. It demonstrates experimentally observed
features of traffic flow such as the existence of three regimes: free,
fluctuative (synchronized) and congested (jammed) flow; bistability of free and
fluctuative states in a certain range of densities, which causes the hysteresis
in transitions between these states; jumps in the density-flux plane in the
fluctuative regime and gradual spatial transition from synchronized to free
flow. Our model suggests that in the fluctuative regime there exist many stable
states with different wavelengths, and that the velocity fluctuations in the
congested flow regime decay approximately according to a power law in time.
