Turn 10 making next-gen racer for new Xbox.

Microsoft has announced Forza Motorsport 5 for the Xbox One.

Forza Motorsport 4, released for the Xbox 360 in 2011.

Speaking at the announcement of Microsoft's next-generation Xbox, Microsoft Game Studios head Phil Spencer confirmed the next entry in the long-running racing franchise.

The game is being developed by longtime series steward Turn 10 and will be released at the launch of the next-generation Xbox One.

Turn 10 released a new trailer for the game and promised that more information would be made available at E3 2013 in June.

More to follow.

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