Ferrari- La Ferrari: Ferrari's offering in Geneva comes in the shape of their first ever supercar equipped with hybrid technology, christened La Ferrari. The car, priced at one million euros, uses the company's own HY-KERS hybrid technology, made up of two electric motors which add 163 horsepower to the 800 provided by a 12 cylinder engine, without increasing the amount of emissions or fuel required. (Photo/Agencies)

Koenigsegg Hundra: Koenigsegg celebrated its 10th anniversary by releasing a one-off supercar. The Hundra, meaning "one hundred" in Swedish, is the 100th car to be built by the company, and is valued at $1.6 million. No expense was spared in the Hundra's making: the body is made of carbon fiber, with hand-laid, 24-carat gold inlays woven into the framework. The 5.0-liter twin turbocharged V8 engine was developed by Koenigsegg itself. (Photo/Agencies)

Bentley Flying Spur: According to Bentley, the environment inside its new Flying Spur is one of "absolute calm". Meanwhile, the exterior reflects the high class style you would expect from a car straight off the Bentley production line. The Flying Spur runs with a 6.0-liter turbocharged 48 valve, W12 engine which produces 616 horsepower. It goes from 0-60 miles per hour (mph) in 4.3 seconds and has a top speed of 200 mph. (Photo/Agencies)

Alfa Romeo 4C: Alfa's latest offering is built around its award-winning concept of minimizing a car's weight, rather than focusing merely on maximizing power. With that in mind, Alfa said the new 4C has "significant reductions in weight over its entire structure", meaning a turbocharged 4-cylinder, 1.75-liter engine with just 240 horsepower is far more powerful than it seems. The 4C can do 0-60 mph in 4.5 seconds and has a top speed of 155 mph. (Photo/Agencies)

Qoros: Geneva 2013 sees the global debut of the Qoros brand, a joint venture between Chinese-based Chery Automobile, the largest independent car manufacturer in China, and Israel Corporation. Qoros unveiled its first production model and two concept studies at the show, and expects to launch a new model every six months. (Photo/Agencies)

Rolls Royce Wraith: Speaking to CNBC in Geneva, Rolls Royce CEO Torsten Muller-Otvos, described the Wraith, as "the most powerful Rolls Royce we've ever built in our 109-year history". Rolls Royce's latest release certainly trumps its predecessor, the Ghost, as its updated 624 horsepower, V12 engine helps shave 0.3 seconds off its 0-60 mph acceleration time. (Photo/Agencies)

GM Chevrolet Stingray Convertible: As proof of its faith in the new Chevrolet convertible, General Motors has given it the iconic Stingray nameplate, making the Chevrolet only the third generation of Corvette to display it, and the first for four generations. Susan Docherty, president of Chevrolet Europe, told CNB the Stingray is an "incredible machine which represents the soul of our company". (Photo/Agencies)

One of the world's top five auto shows, the 83rd annual Geneva Motor Show exploded into life this week with around 700,000 visitors. It featured new releases from Mercedes-Benz, BMW and Bentley, as well as the unveiling of a new brand, Chinese-Israeli joint venture Qoros.

The most expensive and exciting releases this year came from McLaren, which unveiled the $1.3 million P1, and Lamborghini, which launched the $3.9 million Veneno. The show also saw releases from industry heavyweights Rolls Royce, Alfa Romeo, Bugatti Veyron and Swedish hypercar manufacturer Koenigsegg.

But despite the glitz and glamour, automakers at the show were unanimous in their concern about the state of the European car industry.

"2013 looks like a tough year in Europe, but we'll try to keep the market stable," Audi Board Member Luca de Meo told CNBC.

"We're holding the line and trying to nurture organic growth. The U.S. has grown by 50 percent in volume and China is a big source of sales and we believe that market will continue to grow," he said.

(Agencies)