The budgets of F1 teams vary wildly. All the top four sides – Mercedes, Ferrari, Red Bull and Williams – had a budget of more than €350m, dwarfing the remaining six teams, none of whom reached €100m.
Carey has now confirmed that standard parts is a possibility F1 has measured to cut costs, as he echoed Liberty’s sporting chief Ross Brawn’s claim that technology should not be “dumbed down”.
“There are many paths to get there, whether it’s cost caps, or other ways to address key components of the car,” Carey told Autosport.
“We’re not looking to standardise the car – we think it is very important to continue to have a sport that is competition married to state of the art technologies.
“We’re not looking to dumb the cars down, but I think we can standardise components of it. We are certainly looking for ways to address what some of the teams in particular spend.
“That would improve the overall economics of the business and enable everybody in it to benefit, as well as improving the competition.”
“One of the challenges we have today is there are a handful of teams that clearly spend at a level that’s much different from the others, and you can see the results on the track,” Carey added.
“So if we can bring the costs into an area where they are more comparable – not equal – to each other, it can enhance competition and would make the economics of the business much better.
“We’ve begun that process with the teams, so we’ve had some preliminary meetings. There are some big components to it, like addressing the engine, which is probably the most complicated part of the car as a whole.
“It is certainly our goal to address those costs, and we think the sport will on many levels benefit from that.”