A new continuum version of the car following FVD-Ds model is developed by using a series expansion of the headway in terms of the density. FVD-Ds model is the extension of the full velocity difference (FVD) model with two delays. The stability condition of the new continuum model is derived using the linear stability theory. The Korteweg–de Vries (KdV) equation is derived to describe traffic behavior near the neutral stability line by applying the reductive perturbation method. The corresponding soliton solution of the KdV equation is also obtained. The numerical simulations show that the local clusters appear. It agrees with the theoretical analysis.