For worried parents, the thought of letting your children loose on the family car once they’ve passed their test could soon be a bit less stressful.

Because there is a new device from Ford that will enable owners to prevent their teenagers from treating their motor like a race car – and help them to stay safe at the same time.

MyKey, which is being rolled out on the European Fiesta line from 2012, allows parents to pre-program their car to restrict speed, keep the music volume down and make sure their child is wearing a seatbelt.

The top speed can be limited to 80mph, although that is still illegal on UK roads, and a speed alert chime can be set to play at 45, 55 or 65 mph.

Other safety aspects can also be managed – the stereo can be restricted to just 44 per cent of maximum volume and will be muted completely if the seatbelt is not being worn, traction control cannot be deactivated (so there’ll be no tyre-shredding wheelspins) and the low-fuel alert can come on 25 miles earlier.

Initially it was feared that teenagers might be against the MyKey technology, as it would limit their driving on the roads.

However, research conducted by Ford found that only 36 percent would object to the technology if it meant that they would be allowed to drive more often.

MyKey could also potentially help to reduce insurance costs, which have risen heavily in recent years, if companies recognise the additional safety options that it provides.