Formula 1 cars are designed to push the limits of speed a little more each year. But all this R&D, mechanical and aerodynamic genius have a price. How much?
The total cost of a modern F1 car is astronomical. Let’s dive into the numbers, from the construction of the car to one of its essential elements: the tires. Brace yourself, the amounts are just as impressive as the on-track performance.
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How much does a Formula 1 season cost per year?
If you’re wondering how much an F1 car costs in 2024, you must know that each team spends around $15 million per car. This figure was revealed by Red Bull Racing. With the introduction of the $135 million budget cap imposed by the FIA per team for the 2024 season, development and performance costs are now capped. This budget includes | everything from materials to research, giving smaller teams a chance to compete with giants like Ferrari and Mercedes. The only costs not included are the driver salaries and the top three team salaries. Before 2021, expenses could reach up to $400 million. The costs were then gradually reduced.
What are the most expensive parts of a F1 car?
However, even with this cap, some car parts remain incredibly expensive. The engine, for example: a 1.6-liter turbo hybrid V6, costs around $10.5 million. Each F1 car is allocated three engines for the entire season. Beyond that they have to pay penalty places on the grid. Add to that a carbon fiber chassis starting at $700,000, a gearbox that exceeds $350,000, and you quickly understand why F1 is the most expensive motorsport in the world. The front and rear wings cost an average of over $400,00 and the steering wheel, at least $50,000. So, next time you see a driver throw it to the ground out of frustration after ending up in the safety rail, think about that!
How much does a F1 tire cost?
We often think that tires are one of the simplest parts of an F1 car, but no you can trust me. The development required to create such tires capable of withstanding so many stresses involved massive financial investments by the provider Pirelli. Their cost reflects our favorite sport. On average, a team spends more than $35,000 per driver and per race just on tires. Each Grand Prix weekend, a team must provide 13 sets of tires per driver, and each set costs around $2,700. So the price for one F1 tire is approximately $700. These numbers are insane, but here’s some good news: teams don’t pay for them! It’s the FlA that negotiates annual contracts with Pirelli, the exclusive tire supplier in F1, to ensure perfect equality between teams. That said, the cost to produce these ultra-high-performance tires remains one of the most significant investments in the paddock.
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What is the most expensive F1?
If you’re wondering which is the most expensive F1 car in history, no, it’s not a modern one. It’s not even a Ferrari! We need to go back to 1954, when Juan Manuel Fangio won his world championship driving a Mercedes W196R. This F1 car was auctioned off in 2013 for $30 million. To this day, it holds the record for the most expensive F1 car ever sold. This astronomical amount reflects both the historical value and rarity of vintage F1 cars. Modern F1 cars don’t reach such heights during their construction. But once they retire from de competition and join private collections, their value can explode depending on their track record. The wealthiest collectors are willing to spend millions to own a piece of motorsport history. Would you?
This article explores how much does a Formula 1 car costs for the 2024 season. From the crazy price of key parts like engines and gearboxes, to the cost of tires for each race, the world of F1 is as expensive as it is thrilling. We also dive into the most expensive Formula 1 car ever sold.
Featured image: Red Bull Content Pool
