Europe's premier yearly motor show kicked off in Geneva, Switzerland, with a wide array of premium brand automobiles for the mega-wealthy individuals.

Among other notable car stands, Ferrari reportedly drew the largest crowd of viewers who were there to see the Italian sports brand show off its very first limited-edition vehicle since the Enzo had been revealed nearly a decade ago, according to The Australian.

Only 499 examples of its newest model, LaFerrari - priced at a whopping $1.65 million - will be made. The company is said to already have buyers for most of them.

The LaFerrari reportedly raises the sports car performance bar with the ability to reach 100km/h in minus-three-seconds due to a 708kW combination of V12 petrol engine boosted via an electric motor.

"This is a truly extraordinary car which encompasses advances solutions that, in the future, will find their way on to the rest of the range," said Ferrari President Luca di Montezemolo.

Ferrari's motorsport rival McLaren thinks that it will have an even faster vehicle and its chief Ron Dennis elaborated on his confidence.

"This is going to be the fastest car in the world. No one's going to get anywhere near the performance of this vehicle," he said.

Also at the Geneva Motor Show, Lamborghini revealed the Veneno, a version of its Aventador, restyled to resemble a prototype racer. The vehicle will go for $4.4 million with only three being made thus far.

The Wraith, which is a two-door version of the Ghost, is considered to be the junior model for Rolls-Royce. Its 2.4 tonne coupe can reach 100km/h in just 4.6 seconds due to a large V12. Bentley unveiled its new Flying Spur, which has been remodeled to appeal to the Chinese market.

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Cars