Formula 1 is a complicated series that is founded on complex engineering, tough business negotiation and precise data. The Formula 1 cars are some of the fastest machines in the world, with speeds consistently crossing 300 km/hr. And naturally, they cost a huge amount of money to be built. The cost mostly depends on how much the teams are willing to spend on its development – which varies wildly depending on how big or well-reputed that team is.
But to level the playing field, and make the races more competitive, the FIA has come up with a cost cap to be implemented in the upcoming seasons. As per the 2024 cost cap, Constructors can spend a maximum $135m on car performance factors.
In this article, we will explore the cost of a Formula 1 car, breaking down the expenses for various components such as the chassis, engine, transmission, suspension, tires, and other essential parts.
How much does a Formula 1 car cost?
The Formula 1 car costs around $16.8 million USD (approximately €15 million) according to Red Bull. This overall cost is the sum of various super expensive parts like a powerful engine, tires, a strong body etc. All these help the car go super fast. In the table below, we have mentioned the cost of various car parts.
Car Parts | Price |
Front wing | $1,50,000 |
Halo | $17,000 |
Set of tires | $2,700 |
Steering wheel | $50,000 |
Engine Unit | $10.5 million |
Fuel Tank | $1,40,000 |
Carbon Fibre (Chassis) | $6,50,000 – $700,000 |
Hydraulics | $1,70,000 |
Gearbox | $4,00,000 |
Rearwing | $85,000 |
What is the most expensive part of a Formula 1 car?
The engine is the most important unit of a F1 car, and naturally the most expensive – it is nothing short of a technological marvel. The turbocharged 1.6-liter V6 hybrids, producing around 900 horsepower currently costs approximately $10.5 million. The actual cost, of course, depends on the plans and cost-cutting efficiency of the teams and the innovation used.
How much do Formula 1 tires cost?
What is the cost of a Formula 1 chassis?
What is the cost of a f1 steering wheel?
A Formula 1 steering wheel costs around $50,000. It features various buttons, switches, and displays that give drivers crucial information and control during the race.
How much does a Formula 1 wing cost?
The combined cost of the front wing and rear wing for a Formula 1 car is $235,000. The Front wing cost around $150,000 and Rear wing cost around $85,000
What is cost of Halo in F1 car?
The Halo, a titanium structure above the car’s cockpit, is a brilliant F1 invention which protects the drivers from debris flying off from other cars. The cost of it is estimated to be around $17,000. It is an extremely integral part of the F1 car design- it is a key safety component that has driven down accidents and incidents over the years.
What is the cost cap in Formula 1?
The FIA has introduced a cost cap to level the playing field and make the races more competitive. As per the 2024 cost cap, Constructors can spend a maximum of $135 million on car performance factors.
Most Expensive F1 car
There is no detailed information available on which F1 car is the most expensive due to their variable operating costs. However, When a formula 1 car leaves the track it attracts a lot of buyers in the auction.
In 2013, Juan Manuel Fangio's 1954 Mercedes-Benz W196R Formula 1 car sold for almost $30 million, making it the most expensive F1 car ever.
Must Read | What is the difference between F1, F2 and F3
