The cost of an F1 car has been a topic of intrigue amongst the fans. Back in the day, the cars used to cost a lot less than what they do now. The use of new compounds and elements has substantially increased the price of an F1 car. However, the latest generation of cars are much more reliable and are cheaper to run over the length of a season.
Nonetheless, according to Motorsport, the current generation of F1 cars still cost around $20.62 million. The power unit is a huge chunk of the total cost of an F1 car. With an F1 team needing to run two cars for a season, the cost of the cars goes beyond $41 million.
However, this doesn’t include the cost of the spare chassis and the other parts. With the cost cap limiting the team’s budget to $135 million, a very small amount is left for the R&D of the car compared to the no-cost cap era.
With all the factors running up the cost of running the two F1 cars on track, teams have to be careful about what they spend their money on. The cars and the parts — along with being performance-effective — also have to be cost-efficient. Nonetheless, here’s a breakdown of the $20.62 million cost of an F1 car into various parts.
Power Unit
The power unit is known as the heart of an F1 car and the chassis is often built around the engine. The 2024 F1 cars use a 1.6L V6 turbo-hybrid engine that produces over 1000 horsepower. Only four engines [previously three] are allowed per driver for the 2024 F1 season, hence the engines have to be extremely reliable and last an average of six to eight race weekends.
Extracting so much power from the engine size of a sedan isn’t an easy feat and requires the use of rare elements. Titanium and gold alloys are used in and around the power unit for the desired output. The engines also have to be as compact and lightweight as possible for better aerodynamic packaging and mass distribution.
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As a result, an F1 power unit costs around $18.32 million (depending on the engine manufacturer). About 90% of the total cost of an F1 car is in the power unit. It includes the Internal combustion engine, turbocharger, (MGU-H) motor generator unit heat, (MGU-K) motor generator unit kinetic, energy store, control electronics, and exhaust system.
The cost of the engine has become a concern for the sport. Therefore, the new power units being introduced in 2026 will get rid of the MGU-H system. The use of the rare elements will be limited and the cars will be highly dependable on the electrical deployed for the power.
Chassis
The chassis is the base structure of the car on which all the other parts are mounted or attached. It is the core structure that provides enough rigidity to the platform and saves the driver in case of an accident. The chassis is made from carbon fiber and is always built in one single piece.
The cost of an F1 car chassis is around $707,000. It is the second most expensive part of an F1 car but plays a crucial role in the kind of response that a driver gets from the whole car. The FIA safety tests are another aspect that’s kept in mind while developing the chassis of a car.
Gearbox
The gearbox provides the car with a drive. On one end, the gearbox is mated to the rotational output of the engine (crankshaft). On the other end, the gearbox is connected to the rear wheel via the differential and the axle. Unlike road cars, the differential and gearbox are stress members of the chassis and provide additional rigidity. Hence, when a car’s rear end is damaged, there’s a high chance of gearbox damage. The cost of the gearbox is $354,000.
Hydraulics
Hydraulics don’t add any performance to the car but are crucial for the operation of multiple key systems. The brakes, differential, power steering, gear shifting, the clutch, and the DRS are all controlled by hydraulics. The hydraulics system cost $170,000.
Floor and Barge board
In the current era of F1 cars with the ground effect, the floor plays a crucial role in how the downforce is produced. The floor is again made out of carbon fiber with a wooden plank attached to it. The floors are built precisely with the venturi effect sucking the car towards the track. Even a small amount of damage to any venturi tunnel massively reduces the downforce. The floor costs around $141,000.
Front Wing and Nose Cone
The front wing is the first part of the car that attacks the air. The wing directs the car over and under the rest of the car. It plays a crucial role in how the other aerodynamic parts work. The nose cone and front wing are crucial for safety during a front om impact. The front wing and nose cone costs $141,500.
Rear Wing and DRS
It is essentially for the rear downforce of the car. It dictates how the air leaves the car. The air from the diffuser mixes with the air that leaves the rear wing to improve the efficiency of the floor. The DRS system is incorporated in the rear wing, which hydraulically operates a flap to reduce the drag on the straights. The rear wing costs between $85,000-$150,000 depending on the configuration.
Brake Disc and Pads
The F1 brakes are made from a special carbon compound and can reach up to 1000⁰C under hard braking. Both the disc and the brake have to withstand the high pressure and heat over the race distance without any brake fade. A set costs $78,000.
Steering Wheel
The F1 steering wheel has multiple buttons on it to control the various electric and hydraulic settings on the car. Brake bias, differential, DRS, team radio, pit limited, engine mode, etc. are the functions controlled via these buttons. The steering wheel also has an LED screen to display information and a shift indicator. It also has paddle shifters for controlling the gearbox. A steering wheel costs $50,000.
Fuel Tank
An F1 fuel tank is right behind the driver and is made out of kevlar and plastic. Multiple sensors are attached to the fuel tank like the fuel flow sensor. The cost of an F1 fuel tank is $31,000.
Halo
An important safety feature introduced by the FIA after Jules Bianchi’s unfortunate crash. The halo is a solid carbon fiber structure above the cockpit that protects the driver’s head from any large fly debris. It costs $17,000.
Tires
The wheels are made by BBS while Pirelli manufactures the tires. The wheels are made from forged magnesium alloy and the hardness of the tire compound varies. Each set costs $3000.
Additional Costs/Miscellaneous
Electric wiring through the car, the paint job, the suspension rods, springs, and dampers can amount up to $51,000.
