The greatest race cars are only built in Formula 1 as every new technology and invention starts there and then is introduced in the consumer car markets. But do you know how much it costs to build a Formula 1 car? Is there any way you can own a car yourself?
A lot of time and research was being spent by Formula 1 teams to build and develop a Formula 1 car. But the key thing needed to build a race car is money. Tons and tons of money will be required if you want to build a race car. So the question is What does it take to build a race car? Answer: It takes a lot.
How costly is an F1 car?
Nobody knows the exact cost of a Formula 1 car as each car has different elements and background operations. However, according to Red Bull, their car costs approximately 15 million dollars each. For the 2024 season, each team is allowed to spend 135 million dollars on materials related to car performance.
What is a Cost cap?
To bring the playing field to a level between big teams and small teams FIA introduced a special regulation over money spent by each team on their cars. Before 2021 there was up to 400 million dollars spent in developing an F1 car. In the 2021 season, the cost cap was reduced to 145 million and in 2022 further down to 140 million dollars which brought competition back to the Formula 1 grid as Mercedes spent lots of money on their championship-winning cars development which is the biggest reason for their success from 2014 to 2021.
Expensive parts in an F1 car
The engine is the most expensive part of an F1 car which is not a surprise for many. The other expensive parts are the chassis, gearbox, and front and rear wings. So next time you see the front or rear being damaged during a race think it costs the team around 250,000 dollars combined. The cheapest part of the F1 car is the Halo which saves the most expensive and priceless thing (Driver life).
Cost of tyres
A set of Four F1 tyres will cost around 2,700 dollars. During a typical weekend, a team needs 13 sets per driver which costs 35000 dollars for each driver. But the teams don't need to pay for the tyres. The official Sponsor Pirelli will be paid by the FIA annually. All teams use the same tyres.
Also read: Top Indian cricketers Who are Formula 1 fanboys
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