Confirmed Digital Foundry analysis, Trailer 2

Does GTA 6 Have Ray Tracing?

Yes. Digital Foundry's frame-by-frame analysis of Trailer 2 identified hardware-accelerated real-time ray tracing in multiple sequences. Reflections on wet surfaces, vehicle paint, and building glass show characteristics consistent with ray-traced lighting rather than screen-space reflections.

This is consistent with the PS5 and Xbox Series X/S hardware capability. Both consoles include dedicated ray tracing acceleration units. GTA 6 appears to use this hardware for at least reflections and potentially global illumination based on the footage analysed.

Is ray tracing confirmed on both PS5 and Xbox Series X/S? Analysis
The trailer footage does not distinguish between platforms. Both PS5 and Xbox Series X/S have hardware ray tracing capability. Whether the implementation differs between the two platforms in resolution, frame rate, or quality settings has not been confirmed.
Analysis, Digital Foundry, no platform-specific confirmation
Will ray tracing affect frame rate? Analysis
Likely. Ray tracing is computationally expensive on current hardware. GTA 5 on PS5 and Xbox Series X offered a performance mode at 60fps and a quality mode at 30fps. GTA 6 will almost certainly offer similar options. Whether ray tracing is available in the performance mode or only in the quality mode has not been confirmed.
Analysis, based on current-generation ray tracing trade-offs
Will the PC version have better ray tracing than console? Analysis
Almost certainly, assuming a PC version follows. High-end PC hardware significantly outpaces PS5 and Xbox Series X/S for ray tracing workloads. The PC version will likely support higher ray tracing quality settings and potentially path tracing at the top end.
Analysis, no PC version confirmed yet