The title is described as an open-world racer set in Colorado, with dynamic day and night cycles, gas stations, paint shops, car dealerships and even a chance to race in a plane. Physics will be very similar to Forza 4, but as there are apparently 65 different types of terrain, they will be optimised for off-road driving.
Turn 10's Forza Horizon will launch on Xbox 360 October 23, Microsoft just announced during its pre-E3 press conference in Los Angeles.