Ferrari's 2024 F1 car in the works, but budget cap poses challenges

Jul.12 - Ferrari has already turned its attention to producing a new Formula 1 car for 2024.

Carlos Sainz said at a sponsor event in London on Tuesday that after a "tough start to the season", Ferrari has succeeded in "improving" the 2023 car.

The Spaniard said Ferrari's goal is "coming back to fight for podiums and victories".

However, according to team boss Frederic Vasseur, those ambitions may actually have to wait.

"Certainly the main factor is the budget cap," the Frenchman told the Italian newspaper Corriere dello Sport.

"It does not allow for the creation of a new project as probably would have happened a couple of years ago. It means that you have to adapt your project to the situation and in these conditions I think we have made a good step forward.

"We must also consider that the regulations are much more prescriptive than before and it is quite difficult to make a big step forward in the course of a season," Vasseur added.

"As far as we are concerned, we are already working on next year's project and trying to correct the direction."

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