F1 Car Price | What Is The Cost Of Formula 1 Cars?

Formula cars are popular as the fastest cars known in the world. They race at an average speed of 300 km/hr. To build a machine of that calibre, the amount of money invested is sky-high. 

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Price of F1 Cars is Not Fixed

Formula 1 cars are dream vehicles for a lot of car enthusiasts. Models of many cars by huge companies like Ferrari, Mercedes, or Red Bull are popular for their races. They spend more than $400 million. Smaller companies are incapable of spending that much and lack severely in resources.

But very few people know that there isn't a fixed model of an F1 car. Every component of the car changes after each race, sometimes even during the race. Each car is designed after months of research and testing for the only race, and its parts are available in the market with a different price range.

To be fair to all teams, FIA (Fe'de'ration Internationale de l'Automobile) came up with a strict budget for all the companies. $135 million is the maximum limit for the races to be organized in 2022.

Cost of the major F1 car components

Engine:

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It is the most expensive component of the car. The engine used in F1 cars is a 1600cc turbocharged V6 engine. It encompasses Internal Combustion Engine, Turbocharger, Motor Genetic Unit-Kinetic (MGU-K), Motor Generator Unit-Heat (MGU-H), Energy Stores (batteries), and Control Electronics. All of this cost around $18.32 million.

Halo:

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Halo is a titanium structure is built above the car's cockpit to protect the drivers from flying debris. This is an important part of the car, which has helped reduce accidents. The cost of a halo is about $17,000.

Front and Rear Wings

Both wing-like structures help maintain the car's balance when it goes through a high-speed corner while racing. The make and model changes depending upon the conditions of the race. Front wing price ranges about $150,000 while rear wings cost $85,000.

Hydraulics:

It is almost impossible for an F1 car to function without its hydraulics. There are nine subsystems, namely: power steering, DRS system, differential, reverse gear, throttle, inlet valve, turbo wastegate, clutch, gearshifts, and brake by wire. These are pricey and can cost as high as up to $170,000.

Chassis:

The central part of the F1 car is a single-piece monocoque structure twice as strong as steel and 5 times lighter. It is made of 12 layers of carbon fibre mats. The halo, the wings, and other parts are directly attached to the chassis. Based on its high importance, its cost ranges up to $1,200,000.

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Tyres:

Depending on the race and number of laps, tyres are built for optimum performance and minimal friction. They are either soft, hard, or somewhere in between. The softness allows more grip, but they degrade faster, while when they are hard, the tyre is more durable, albeit relatively slower. The average price of a tyre set is $3000.

Some other parts of the vehicle and their average price is as follows:

• Fuel Tank - $1,40,000

• Gearboxes - $600,000

• Steering Wheels - $70,000

• Brake discs and pads - $78,000

• Floor and bargeboards - $141,000

• Driver's seat and suspension - $48,000

• Transmission systems - $250,000