How much is an F1 car worth
The Formula 1 costs - the budgets of the racing teams
It is certainly no secret that Formula 1 and the maintenance of racing cars are expensive. But very few fans know exactly what budgets the Formula 1 teams work with and what the individual parts of a racing car in F1 cost.
It is often criticized that financially strong racing teams have an advantage over smaller teams. This can be seen in the teams' budgets in the 2016 season. While the smallest team had to make do with around 90 million euros a year, the top teams had around 470 million euros a year at their disposal. At the beginning of the 2021 season, the FIA changed the rules. There is now a budget limit of 145 million euros for Formula 1 cars in 2021. However, this does not include the driver's salary.
What does a racing driver earn in Formula 1?
The salaries of Formula 1 drivers also put a strain on the teams' budget. The top drivers in Formula 1 earn top salaries. This is mainly due to the fact that there are only a few drivers in the world who can compete at this level.
The Formula 1 driver salary of one of the most successful players in the racing circuit, the Briton Lewis Hamilton, should be around 35 million euros at Mercedes in the 2021 season. Sebastian Vettel allegedly earned even better money when he was at Ferrari. He is said to have received around 40 million euros in the 2020 season.
The lesser-known drivers in the smaller teams earn an average of between three million and 500,000 euros per year. This means that these Formula 1 driver salaries are on a similar level to those of the best racing engineers. They are responsible for the design and technology of the vehicles and also earn around half a million euros a year. The salaries of the mechanics of the pit team then slowly move to a normal level. On average, they should receive around 43,000 euros a year for their work.
Formula 1 costs - this is how the costs for a racing car are composed
One of the largest items in the annual budget of a Formula 1 team is the vehicle itself. It should be noted that the Formula 1 car costs are not only caused by material and production. Research also devours a lot of money. The establishment of a wind tunnel alone should cost around 50 million euros. Added to this are the running costs of the wind tunnel, which, according to insiders, are between 900 and 2,000 euros per hour.
Formula 1 car costs using Force India as an example
Some time ago, the Formula 1 racing team Force India made the exact cost of its own vehicle public. This example makes it clear which Formula 1 car costs are already incurred by teams in the midfield of the racing series. It can be assumed that the top teams will invest even more money in the components.
Force India's entire vehicle in the 2017 season cost three to four million euros. The bill includes many wearing parts that are replaced after every race or even several times per race during pit stops. In addition, each team brings two vehicles to the start. In the course of a season that consists of over 20 races and still includes numerous training sessions, the Formula 1 car costs can be extrapolated quite well.
The drive - largest factor in Formula 1 car costs
The engine is certainly the heart of a Formula 1 racing car. This is also reflected in the price of the unit. The high-performance engines in Formula 1 cost around one million euros. In addition, there is the engine cover and the underbody. These are always individually adapted for the current vehicle and engine. As a result, these components are also very expensive and cost around 250,000 euros.
The chassis and components add to the cost of Formula 1 cars
Formula 1 vehicles are made from high-performance materials. These are correspondingly expensive. The complete chassis of a car costs around 500,000 euros. Even minor accidents can quickly become expensive. Replacing the front wing generates costs of 150,000 euros and the rear wing alone costs 40,000 euros.
The components that are individually adapted to the driver are also very expensive. This is the case with the accelerator and brake pedals. They are tailored to the size and foot of the driver and made from carbon and titanium. One set costs around 10,000 euros. The same amount is invested in the seat of a Formula 1 racing car. This is also precisely adapted to the body of the respective driver.
By far the most expensive component in the cockpit, however, is the steering wheel. It costs around 60,000 euros. The fault is the high level of technology in the steering wheels. A modern system consists of over 100 functions, displays and switches. The production of a steering wheel takes more than 100 working hours and carbon is primarily used to keep the weight low. More about the technology that was developed in Formula 1.
Tires, suspensions and rims - Formula 1 car costs that add up
At first glance, the tires in Formula 1 vehicles look almost inexpensive. A single tire costs around 1,500 euros. For one set this is 6,000 euros. On a race weekend, however, a team wears out numerous sets of two vehicles. Thus, the Formula 1 car costs alone can quickly exceed 50,000 euros on a weekend.
The rims are in no way inferior to the tires. A rim costs an impressive 5,000 euros, which means 20,000 euros per vehicle. The complex suspension is then a real cost factor. Since the wheel suspension can withstand high loads and must meet strict safety criteria, it costs 200,000 euros per wheel.
Formula 1 gasoline drives up costs
Even Formula 1 gasoline is a factor that causes enormous costs for vehicles. It is not the fuel itself that is downright expensive. Rather, the tank in the vehicles is integrated into the safest part of the racing car, the monocoque. If more Formula 1 petrol is to be taken on board, the vehicle must be redesigned and converted. This sometimes results in costs of 250,000 euros if a new tank is required for a few liters more gasoline.
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