Although a budget ceiling has now been introduced in Formula 1, it is still far from free to develop the cars from year to year. Get the overview here.
Historically, the answer in Formula 1 has often been that "the costs for the development of a Formula 1 car are as long as a string".
Put another way – the expenses are endless. Or. At least it has been. In order to ensure a more equal competition between the current eleven teams, a budget ceiling has been introduced. It happened in 2021.
The ceiling, which regulates the total budget for the development and operation of all Formula 1 teams, is currently set at 135 million dollars per year. team – around DKK 940 million.
However, all teams must exempt the three most lousy employees from the actual budget cap. For the record, we point out here that it is usually the choirs that get the most in wages. At least with the top teams.
Before the cost ceiling was introduced, Pat Symonds, who is technical director at Andretti Motorsport, which hopes to land 11th place in Formula 1 with Cadillac, estimated that the total price of a car could reach almost 3 billion kroner.
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– In my previous role, I used to constantly ask the teams how much they spent on certain components.
– Sometimes the teams wouldn't say anything and sometimes they didn't know – but I made some notes and I can calculate the cost increase with inflation after my years with Marussia, says the technical director to Motor Sport Magazine .
Here's what the individual parts of the car cost today, according to Symonds.
How expensive are the parts for a Formula 1 car:
- Chassis: Approx. DKK 4.9 million
Consists of twelve layers of carbon fiber and weighs around 35 kg. - Rear wing with DRS: DKK 595,000-1.05 million
The design varies depending on the track requirements and the ground effect. - Front wing and nose: DKK 990,000
A complex part that affects the car's aerodynamics by first breaking the air and then directing it around the car. - Halo: DKK 120,000
This protective frame withstands pressure of up to several tons to protect the driver. - Floor and wind deflectors: DKK 990,000
Designed to optimize airflow with minimal turbulence. - Engine: DKK 127 million
The 1.6 liter V6 engine with turbo and hybrid technology is the most expensive single component. - Gearboxes: DKK 2.45 million
Semi-automatic systems with eight gears that shift in just 0.05 seconds. - Fuel tank: DKK 215,000
Made of kevlar and polyurethane to avoid weight shifting during lob. - Steering wheel: DKK 350,000
Made of carbon fiber and adapted to the driver's needs with up to 20 buttons and functions. - Hydraulics: DKK 1.2 million
Checks the car's mechanical systems, including steering and DRS. - Brake discs and pads: DKK 540,000
Designed for efficient coaling and performance in extreme conditions. - Tires: DKK 21,000 per set
Manufactured in different rubber compounds and adapted to weather conditions. - Miscellaneous (wiring network, drive shafts, etc.): DKK 350,000
With these expenses, it is clear that a Formula 1 car is one of the most advanced and expensive machines in the world. However, the cost ceiling helps to make the competition more manageable and predictable.
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