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.
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. 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.
In case you missed it: 15-year-old Truly Adams takes big step toward fulfilling Formula 1 racing dreams
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.
Here’s the official schedule of races for the upcoming season, with qualifying events happening the day before each.

source