How much does an F1 car cost? (Lars Baron/Getty Images)
When you watch a Formula 1 car crash into pieces, you might not just realize how much it costs to replace that piece of Formula 1 machinery. It’s a lot.
Crashes are a reality in Formula 1 or any racing series for that matter.
Drivers definitely try to avoid them. Teams are afraid of them. But sometimes it simply happens and when it does, the cost can be enormous.
These aren’t street cars with standard parts after all. They are custom made machines that are very expensive to build and maintain.
How much does an F1 car cost?
In 2021, Motor Sport magazine came with Formula 1 technical director Pat Symonds Find out how much a modern F1 car costs and we’ve come up with some eye-opening numbers.
- Engine: $18.32 million
- Chasis: $707,000
- Gearbox: $354,000
- Hydraulics: $170,000
- Rear wing: $85,000 – $150,000
- Front wing/nose cone: $141,500
- Floor and wood panels: $141K
- Brake pads and discs: $78,000
- Small components: $51,000
- Steering wheel: $50,000
- Fuel tank: $31,000
- Halo: $17,000
- Tires: $3000 a set
- Total: $20.62 million
These costs are simply for the parts themselves, not the development or manpower involved in making the car a reality.
Obviously, different cars have different costs, so the money Mercedes puts into their car isn’t going to be the same as that of Williams. This is just a basic idea of expenses.
Also, these numbers correlate with the previous set of regulations that were in place until 2022. The cars racing in F1 this season may be slightly different.
It’s crazy to think how a steering wheel in an F1 car, which includes twenty important components, costs so much more than the entire car that most people drive to work every day.
Just don’t think the Formula 1 makers shouldn’t think about cost the same way the average Joe has to pay for service every year. The cost caps in the sport made the small expense of building a car even more important.
F1’s current budget cap is $140 million.
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