Formula 1 cars are among the most expensive and technologically advanced vehicles in the world. But can you actually guess how much a single car costs? It is approximated to have a price of $16 million. The tuning and the upgrades would bring the estimate between $12 million and $20 million.
Key components of driving costs
The most important expense in an F1 car starts from the hybrid power unit and the chassis of the vehicle. The power unit, which is a sophisticated 1.6-litre V6 turbo-hybrid engine blended with an energy recovery system, will amount to a total of up to $12 million of the total budget. The carbon fiber monocoque chassis adds another $600,000 approximately. The high-cost elements include the advanced suspension system, which can go up to $4 million. The other important elements, like wings, braking systems, and electronic control units, are all assembled to provide the best precision and performance
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Operational costs
The teams face high operational costs during the races, which include tyres that can cost over $35,000 per event. The ongoing costs, along with the development budget, fall under the FIA’s cost cap. This is introduced to promote fair competition and have a hand on the runway spending. This cap restricts teams to a budget of $140 million on performances.
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Formula 1 is a multi-million dollar sport driven by the ideals of technology and innovation, emphasising each car as a technological marvel. A Formula 1 car management might take a sweat on a winter’s day because it requires the management of a huge amount of investments behind the vehicle, chassis, hyper power unit, and cutting-edge electronics.
