There is more to Formula 1 than its swift speeds. Behind these thrilling races are integral parts and mechanics that come at a staggering price, all for the sake of victory.
Normal cars can be expensive, let alone a racing car. In fact, Formula 1 cars can cost a pretty penny; more than you may think.
No need for a racing suit or helmet in order to crunch these numbers. Here’s how much a Formula 1 car costs, plus this season’s schedule.
How much does an F1 car cost?
The exact cost of a Formula 1 car varies depending on its overall setup. A set of wings can cost around $200,000; some steering wheels can be priced at $50,000, according to Red Bull. An engine could even cost a whopping $10.6 million.
The cost of a Formula 1 car hovers at around $15.9 million, but this is an estimate, states Red Bull. The current price range for one of these racing cars may lie between $12 to $15 million, according to Red Bull.
During the 2022 season, F1 teams were allotted $145.6 million for spending but that didn’t all go to one car. Instead, the money could be put toward building the driver’s car. However, the budget also included other expenses “minus driver salaries and a few other exceptions,” according to Red Bull.
How fast can a F1 car go?
On average, a Formula 1 car can reach speeds just above 220 mph. F1 cars can accelerate from zero to 60 mph in just 2.6 seconds.
The official fastest speed by an F1 driver is 372.5 kph, or about 231.46 mph, according to Red Bull. The record was set by Valtteri Bottas at the 2016 Mexican Grand Prix.
2023 Formula 1 season schedule
Here’s the official schedule of races for this season, with qualifying events happening the day before each.
- March 5 – Gulf Air Bahrain Grand Prix
- March 19 – STC Saudi Arabian Grand Prix
- April 2 – Rolex Australian Grand Prix
- April 30 – Azerbaijan Grand Prix
- May 7 – Crypto.com Miami Grand Prix
- May 21 – Qatar Airways Gran Premio del Made in Italy e Dell’emilia-Romagna
- May 28 – Grand Prix de Monaco
- June 4 – AWS Gran Premio de España
- June 18 – Pirelli Grand Prix du Canada
- July 2 – Grosser Preis von Österreich
- July 9 – Aramco British Grand Prix
- July 23 – Qatar Airways Hungarian Grand Prix
- July 30 – Belgian Grand Prix
- Aug. 27 – Heineken Dutch Grand Prix
- Sept. 3 – Pirelli Gran Premio D’Italia
- Sept. 17 – Singapore Airlines Singapore Grand Prix
- Sept. 24 – Lenovo Japanese Grand Prix
- Oct. 8 – Qatar Airways Qatar Grand Prix
- Oct. 22 – Lenovo United States Grand Prix
- Oct. 29 – Gran Premio de la Ciudad de México
- Nov. 5 – Rolex Grande Prêmio de São Paulo
- Nov. 18 – Heineken Silver Las Vegas Grand Prix
- Nov. 26 – Etihad Airways Abu Dhabi Grand Prix
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