How much does an F1 car cost in 2023? Key parts, history of most expensive Formula 1 cars
A lot of time, effort and know-how goes into the development and construction of a Formula 1 car.
However, the key element that makes it all possible is money… and plenty of it.
The sports news takes a look at the costs associated with an F1 car.
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How much does an F1 car cost?
The exact cost of an F1 car is difficult to confirm, but it is approximate $15 million (€15.8 million each) acc red bull.
For the 2023 season, teams may spend a maximum of US$135 million (€128 million) on materials and activities related to vehicle performance.
This cost cap was introduced to level the playing field and allow smaller teams to challenge race-hardened designers.
Prior to 2021, up to $400 million (€379 million) a year was spent building and developing a top-of-the-line F1 car Magazine Motorsport.
The cost cap was then significantly reduced to $145 million in 2021 and $140 million in 2022, only to shrink again for the upcoming season.
What are the most expensive parts of an F1 car?
Pat Symonds, who designed the title-winning 2005 and 2006 Renault F1 cars, broke down the cost of key parts of a modern-day F1 challenger Magazine Motorsport.
Not surprisingly, the engine is the most expensive component. A single 1.6-liter turbocharged V6 engine is worth approximately US$10.5 million (€130.3 million), with teams allowed to field three throughout the season.
The chassis is also particularly expensive, costing around $700,000 (€663,285) to manufacture.
Reliability is key in an F1 car, so around $350,000 is invested in the transmissionwhich the driver controls via a paddle system.
Both Front and rear wing combine for a price of $250,000 (€236,887). This high total is due to the individual design of the wings for each team.
With technology increasingly at the heart of F1, it’s no big surprise that teams are spending $50,000 (€47,378) on it steering wheelwhich is a crucial source and distributor of data.
At the “cheaper” end, $17,000 (€16,108) is typically spent on the gloriolewhich has proven to be an invaluable and life-changing component since its inception.
Hydraulics, brakes and the fuel tank also add to the staggering overall cost of an F1 car.
How much do F1 tires cost?
A set of F1 tires – including four separate tires – is about worth $2,700 (€2,560) acc F1 Chronicle.
During a typical Grand Prix weekend, a team needs 13 sets per driver, meaning the total value per driver for each race is over $35,000.
However, teams do not pay Pirelli for tire use at every Grand Prix. Rather, the FIA organizes annual packages and supplies the same tires to each team.
What is the most expensive F1 car of all time?
There is no detailed record of which F1 car was the most expensive to design and manufacture.
However, there are many F1 cars that have gone on sale after a season on track, attracting big money buyers.
Juan Manuel Fangiobecame world champion in 1954 Mercedes became the most expensive F1 car ever sold when it sold for around €1000 30 million dollars (€28.43m).
The W196R was auctioned at the Goodwood Festival of Speed in July 2013.