Average Cost of Formula one Car (Component Price Breakdown)
Ever wondered how much does an average Formula one car costs ? Since Formula one 2014 season is swift approaching, today we are going to take a look at average cost involved in producing a Formula one card in 2014. Very first thing you should know that teams like Ferrari, Crimson Bull and McLaren has an average spending of around $320 Million a year which involves car cost, drivers and backroom staff while other smaller team do the same thing at mere $60 million a year. So cost is different for different teams.
What we are going to do is explain how much would it need on average to build a Fresh formula one car ? so let’s get into the business.
There you have it, above is the average cost of basic components plus the big engine but to put the Formula one car on the circuit you need much more than just the car with basic components. following are some of the extra cost a formula one team has to go across the season.
“The engine” of Formula one Car:
It can cost up to $8 to $Ten million depending on the team and with the fresh rules of F1 coming into play we have “1.6-litre turbo-charged V6 engines” which teams will be using. The fresh engines can cost a team lightly around $14 million per car.
There are teams like Mercedes, Ferrari and McLaren who get their engine’s from Japanese company Honda will undoubtedly get help to reduce the cost of engine. While other teams who you can call “customer teams” buying engines from Mercedes, Ferrari and Renault will have to suffer inflated prices of 2014.
“The Tyres” Formula one Car
Formula one cars tyres are supplied by Italian tyre company “Pirelli” according to spokesman of pirelli, they spend more than a low profile teams annual budget, when supplying tyres to Formula one teams via the season.
“The Fuel Cost” of Formula one Car
On average one team shell around 200,000 litres of fuel in a single season. Which is $440,000 a year in just fuel consumption.
The cost of components which dont even make it to the final car ?
The research and Development:
Than there is this intangible cost, where so many components are designed in order to build up that half a 2nd build up in spectacle but according to probe onlu .1% components designed reached the car which hit the formula one track during the season.