MILAN, March 24 (Reuters) - Ferrari was the most cost-efficient Formula One team last season, a report showed on Tuesday.
Although F1 teams increased their overall budgets by an average of about 10 percent to 2.4 million euros ($3.27 million) in 2008 compared to the previous season, Ferrari won more by spending less, Italy’s sports consultancy firm StageUp said.
According to the report’s estimates, Ferrari invested 328.2 million euros to win eight races and gain 172 points last season, while Japan’s Toyota and former Honda teams sit at the bottom of the list in terms of cost efficiency.
McLaren followed Ferrari with six victories, 151 points and a budget of 342.7 million euros.
However, the increased overall budgets prove much work must still be done to meet the International Automobile Federation (FIA)’s target of slashing costs for 2010 and beyond.
StageUp said each victory cost about 135 million euros last season, four times more than the annual budget set by the FIA for 2010.
Despite the current economic slowdown, the report also said telecommunications and financial companies still retained the lion’s share of Formula One sponsorship with a total investment of more than 280 million euros. (Editing by Rex Gowar)