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How Much Does an F1 Car Cost?: F1 Cars Explained

  • Things To Know
  • Silas Smith
  • 4 minutes

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All of us who have seen Formula 1 at least once have wondered how much those speed demons cost. The F1 car costs have changed drastically since the sport’s early days. With new research about new technologies coming out every year, we might soon see a new breed of cars enter the track. 

via GIPHY

F1 is a prestigious series of races held at some of the world’s most beautiful and race-savvy places. Each cars taking part in the races are some of the most expensive ones in existence. But exactly how much do an F1 car cost? Read ahead to answer this question and more about the economic side of Formula 1.  

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Why are F1 cars expensive? 

Apart from the car itself, each team part of Formula 1 spends close to $200 million every season. This includes staff wages, transportation costs, driver wages, and much more. But since 2021, the F1 authority has decided on a cost cap which was $175 million.  

via GIPHY

Every F1 car is designed after extensive research on how the car will run in different scenarios. But what makes the research and development process exceptional is the time and money that is used for it. Everything is studied: from the aerodynamics of the vehicle to the tires and how the car will interact with other cars on the track. Needless to say, this learning process is what adds up to the high cost of building an F1 car. 

In addition, depending on various aspects of design, each part of the vehicle must be custom-made using special materials. For instance, the weight of the material used to make the body or the front wing can cost the driver a podium finish. 

How much money does it take to build an F1 car? 

As you already saw, each team’s money spent on research and development is different. This means there is not an accurate figure for each F1 car, but an F1 car can cost around 13 to 15 million dollars now. 

via GIPHY

The most costly parts of the F1 car are listed below: 

Engine: The average F1 car engine has an average RPM of 15,000. On the contrary, the car now resting in your garage operates at 6,000 rpm or less. Most of the research costs are spent on making the engine capable of outfoxing other cars. 

Transmission: If you ever sit in the cockpit of an F1 car, the transmission system can blow your mind. The gear levers can be found in the steering wheel, which is a costly and complex computer of sorts. 

Chassis: The length of the wheelbase, chassis design, and material make or breaks the chances of a car to win a race.  

For example, see the 2018 Ferrari F1 car above. The engine takes close to 90% of this F1 car’s cost. Even the steering wheel can cost between $50,000 and more these days. In addition, the tires may possibly be the cheapest components in the car. But each car goes through multiple sets of wheels for different situations. 

How much does an F1 car cost in 2022? 

As of 2022, you can expect each of the cars participating in an F1 race to cost between 15 to 20 million dollars. With the arrival of the pandemic, when all sports were affected, F1 car production was not spared as well. It was hard to get raw materials, and transportation costs went through the roof. With the latest cost cap rules, we can expect most of the budget to go into the production of the car and driver wages.

via GIPHY

But most companies are complaining about the cost cap, which came into effect in 2021. Some of them claim to be using reused components to stay within the laws laid out by the cost cap administration. 


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