With Electronic Arts' Need for Speed: SHIFT title already drawing attention this week, Sony has hit back with its wildly successful Gran Turismo series, unveiling a trailer for the new GT5 game at this year's E3 event. Developed by Japanese company Polyphony Digital, the new GT5 promises to be an even more in-depth examination of motorsport, and there are some interesting new modes of play evident in the trailer - including proper rally stages with officially sanctioned WRC cars, and even a NASCAR circuit with stock cars.

While a release date for the new game has not been announced, the sheer number of racing modes, vehicles and tracks will make the wait well worth it. On top of this, the renderings look even more realistic compared to the last iteration of the Gran Turismo series, and for the first time the game will show damage to cars. Additionally, night races will return and there will be in-race weather changes to keep players on their toes.

A full car and track list hasn't been revealed by the developers, but a number of familiar faces can be seen in the trailer, including the Mercedes McLaren SLR. There should be some equally as impressive vehicles revealed later on - especially considering the series has finally gotten a license to use Ferrari's cars.

In terms of the tracks, it seems as though there will be point-to-point rally stages, asphalt circuits and NASCAR tracks included in the game. Some of the known tracks include the Top Gear test track, the Suzuka Circuit, the Fuji Speedway, Eiger Nordwand, Daytona International Speedway and the Indianapolis Speedway.

Additionally, a trailer for a PSP version of the game has also been revealed, and according to Polyphony Digital, the PSP edition will boast 800 cars, 35 tracks and a number of racing modes. The game will be sold as Gran Turismo Mobile and will be downloadable when the new 16GB PSP arrives later this year.

Gran Turismo 5 (GT5) trailer