$5.5m Koenigsegg crashed in what could be most expensive single car smash ever

A Chinese motorist with more money than driving skills has crashed his $5.5 million Koenigsegg sports car in what could be the most expensive single vehicle crash of all time.

After reports circulated of a crash involving a rare Koenigsegg Agera R on Tuesday a video emerged a short time later showing the supercar flying down a road in Chongqing when the driver loses control, Car Scoops reports.

Security camera footage appears to show the driver punch the accelerator causing the powerful Swedish car to veer sharply towards a guard rail and collide with it head-on.

The force of the impact causes the car to spin violently, severely damaging the front and also the rear clamshell.

The driver was reportedly unhurt in the crash.

Witnesses reported seeing the car swerving in the lead-up to the smash and it is believed that alcohol may have been a factor.

Koenigsegg has made just over 100 cars in the last two decades, making the Agera R one of the rarest and most expensive vehicles in the world.

The damaged car is believed to be heading back to the automaker in Sweden for repairs.