A new safety system has the potential to prevent a majority of car accidents, according to a preliminary report by the National Highway Traffic Safety Administration.

Ford demonstrated the new technology for federal officials and media members on Tuesday, though it is not the only automaker to be working on the technology. The idea behind the system is to essentially allow cars to "talk" to each other using GPS and WiFi signals. The signals, sent out ten times every second, broadcast the location of a vehicle in relation to others.

That means that when another person runs a red light or is approaching a car at a high rate of speed, the driver can be alerted via a series of automated beeps. According to the National Highway Traffic Safety Administration, these vehicle-to-vehicle systems could help in 80 percent of crashes that do not involve drunk drivers.

The main drawback to the new system is that it only works if both vehicles are equipped with the sensors, meaning used cars are out of luck. Federal officials are scheduled to meet in 2013 in order to discuss the feasibility of making it a requirement for all new vehicles to have the systems in place.