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F1 car price | What is the cost of Formula 1 cars?

How much is an F1 car price? The Formula 1 cars are some of the fastest machines in the world, with speeds consistently crossing 300 km/hr. Here we look at the cost of F1 cars including its parts like engines, tyres and steering wheel etc.

Abhranil Roy
Last updated: 08.03.2024
F1 car price

Formula One (F1) is a super fancy and expensive sport. F1 cars are the best in terms of technology and engineering. The Formula 1 cars are some of the fastest machines in the world, with speeds consistently crossing 300 km/hr. And naturally, these cars cost a huge amount of money to be built.

In this article, find out the f1 car cost and we will also break down the costs of different f1 car parts like chassis, engine, transmission, suspension, tires, and other components.

What is the cost of an F1 car?

The overall cost of an F1 car can vary from team to team, but the average cost of an F1 car is estimated to be around 16 million USD according to Red Bull

The f1 car price mostly depends on how much the teams are willing to spend on its development – which varies wildly depending on how big or well-reputed that team is.

In the 2024 season, f1 teams have a cap of $135 million (€128m) for expenditures on materials and activities associated with enhancing car performance.

Cost of F1 car parts:

Car parts



$3 million - $5 million


$10 million - $15 million

Transmission (Gearbox)

$500,000 - $2 million

Aerodynamics Package (Includes front wing and rear wing)

$500,000 - $1 million


$2700 per set

Steering Wheel and Dash

$50,000 - $75,000


$50,000 - $75,000

Fuel System


Suspension System

$500,000 - $1 million


$500,000 - $1 million

Total Estimated Cost

$16 - 25 million

F1 Chassis cost :

The chassis is the backbone of a Formula 1 car, providing the support and structure for all the other components. The chassis is made of carbon fiber composites, which provide high strength and stiffness while keeping weight to a minimum. A typical chassis can weigh as little as 70 kg and the cost of a single f1 chassis can range from $3 to $5 million dollars. The FIA, the governing body of Formula 1, sets strict regulations on the design and construction of the chassis to ensure safety and fairness. 

F1 Engine cost:

The engine is the heart of a Formula 1 car, and the technology behind it is truly remarkable. FIA regulations require that all engines be turbocharged 1.6-liter V6 hybrids, producing around 900 horsepower. The f1 engines cost around $10-15 million dollars each, and teams typically use around three engines per season.  These F1 engines are incredibly complex, using a combination of turbocharging, direct fuel injection, and energy recovery systems to deliver power and efficiency.

F1 Transmission cost:

The cost of an F1 transmission can range from $500,000 to $2 million dollars. The transmission is responsible for transmitting the engine's power to the wheels. It consists of a series of gears and shafts, and is operated by paddles on the steering wheel. The transmission is made of carbon fiber composites, and is designed to withstand the immense forces generated by the engine.

F1 car Suspension cost:

The suspension is also made of carbon fiber composites, and the cost of an F1 Suspension System can range from $500,000 to $1 million dollars. The suspension system is responsible for keeping the car's tires in contact with the road surface, while also providing a smooth ride for the driver. The suspension is made up of a combination of springs, dampers, and anti-roll bars, all of which are carefully designed to balance ride comfort and handling performance.

F1 car Aerodynamics cost:

The cost of the f1 aerodynamics package can vary greatly, but it typically costs around $4-5 million dollars. Aerodynamics is a critical part of Formula 1 car design, as it determines how the car interacts with the air around it. The aerodynamics package consists of a front wing, rear wing, and a series of other bodywork elements. These components are designed to generate downforce, which helps the car to stick to the track at high speeds. The aerodynamics package is incredibly complex, and requires extensive wind tunnel testing and computational fluid dynamics analysis.

F1 car Electronics cost:

Formula 1 cars are also equipped with a wide range of electronic systems, including data logging, telemetry, and electronic driver aids. These systems are used to gather data on the car's performance and to help the driver optimize their driving style. The electronics package is also responsible for controlling the energy recovery systems, which are used to capture and store energy during braking and then release it during acceleration. The electronics package can cost around $300,000.

F1 Tires cost:

The cost of the tires is around $440,000 per season. The set of four f1 tires cost around $2700 and in general on a one race weekend one driver needs 13 sets. The tires are supplied by Pirelli, the official tire supplier of Formula 1.

Please note that these costs are estimates and can vary depending on the team and their suppliers. Additionally, these costs do not include the expenses associated with research and development, testing, transportation, and personnel.

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