Explained: Why do single-seater F1 cars cost above Rs 95 crore? Know reason behind whopping price (2024)

Formula 1 racing is the epitome of motorsports, where technology, engineering and design are pushed to the limits to create some of the fastest and most advanced racing cars in the world. But with these advancements comes a price tag that can reach well over 100 million dollars or Rs 8,24,94,95,000, making F1 cars some of the most expensive vehicles in the world. Average pricing of a car apart from all the research and development can cost up to Rs 98,99,39,400 to Rs 1,23,74,24,250 or more.

One of the main reasons for the high cost of F1 cars is the materials and components used in their construction. The cars are made up of thousands of individual parts, each one designed for high performance and lightweight construction. These components are specially built by each team, adding even more costs to the overall price of the car. Engine components alone can cost upwards of 10 million dollars, and this is just one of the many components that make up an F1 car. The cost of all the spare parts contributes significantly to the exorbitant price of the cars.

The requirement for continuous research and development also raises the price of F1 cars. To keep their cars competitive, teams must frequently test and create new components, and this research and development might cost over 100 million dollar before a single car is even built. These expenses are only increased by the necessity of two cars per team and spare parts.

The FIA enforced an engine freeze on F1 teams in 2022 that will last until the following round of engine regulation revisions in 2026. This freeze is being implemented to cut expenses and assist teams in adhering to budget cap regulations. Teams are only permitted to usethree engines every season, and drivers who use more than three engines will be penalised on the grid. F1 engines are still among of the most expensive and complicated engines in the world, costing upwards of 10-15 million dollarto build, despite this engine freeze.

The level of power produced by these engines is a crucial additional component to take into account. The comparatively small 1.6-liter V6 turbocharged hybrid engines can generate over 1000 horsepower, which is an impressive feat for such a smallengine. The F1 cars are among the fastest on the planet due to itspower, which propels them at speeds of more than 200 mph.

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