Fans left stunned after working out the total cost of a Formula One car

Fans have been left completely blown away by how much a Formula 1 car actually costs a team to build.

Formula 1 is often labeled the most exclusive sport in the world, with businessmen paying millions to park their superyacht in the Monaco harbour to catch a glimpse of the action.

With only 20 drivers in the entire world, it's a rather tough sport to get into, with children having to start an extremely expensive career in karting at as young as three to have any hope of making F1.

Drivers who have made it to the top like Max Verstappen, Lewis Hamilton, and Charles Leclerc all command salaries well over $30 million for their efforts behind the wheel, however, the cars themselves also don't come cheap.

The best way to describe F1 to someone who has never tuned in, it's essentially a mix between the Olympics for engineers and robot wars.

Each team employs hundreds of the world's most innovative engineers and designers and is tasked with building the fastest car they physically can from scratch.

While all the cars look relatively similar due to the regulations, a closer look would reveal huge contrasts in the designs of parts such as the front/rear wings and side pods as all ten teams attempt to create the quickest car.

Unsurprisingly when there is hundreds of millions on the line, the cars you compete with don't come cheap and a recent estimation from Motorsport has revealed a 2024 F1 car would cost an average of £14.58 million.

F1 car- Getty

This may seem totally ridiculous when considering this isn't retail, especially when a manufacturer like Ferrari would sell a high-end supercar for around £300,000 for a significant profit.

The most notable expense that goes into a Formula 1 car is the engine, with the power unit coming in at a whopping $18,320,000 which makes the $50,000 steering wheel seem rather humble.

The reason for these extraordinary prices is simply down to the materials needed to make the car fast. In 2024 the majority of a F1 car is made up of carbon fibre which doesn't come cheap.

A full breakdown of the $20.62 million (£14.58m) average cost of a Formula 1 car via Motorsport:

Chassis: $700,000

Steering wheel: $50,000

Floor: $141,000

Fuel tank: $31,000

Hydraulics: $170,000

Rear Wing and DRS: $150,000

Gearbox: $354,000

Halo: $17,000

Engine: $18,320,000

Tires: $3,000 per set

Front wing: $141,500

Break discs and pads: $78,000