Microsoft has announced Forza Motorsport 5, set for an exclusive release on the newly revealed Xbox One. A short trailer shown at today's Xbox reveal event featured branded cars and car parts racing around some nicely rendered real world locations.
The game will be developed as usual by Turn 10 Studios, and available at launch (which Microsoft says will be later on this year) for the new console.
Update: Trailer added!
Update 2: Screens too!