The much loved worldwide sport Formula 1, also called as F1 by its fans all around the globe is the highest class of single-seat auto racing, sanctioned by the Fédération Internationale de l'Automobile (FIA). The FIA Formula One World Championship has been the highest form of racing since its first season in 1950.

There were other Formula One races as well that were frequently held until 1983. The word "formula", in the name of the sport refers to a set of rules, to which all the cars of the participants must adhere to. The F1 season consists of a sequence of races which are known as Grand Prix, a French word that means grand prizes. These races are held on purpose-built F1 circuits and public roads.

One of the fastest road course racing cars in the world are the Formula One cars that race at speeds up to 375km/h (233 mph) approx. with engines currently limited in performance to a maximum of 15,000 mph. These cars own extremely high concerning speed through the generation of large amount of aerodynamic down force. The cars’ performance is highly dependent on electronics- though traction control and other driving aids have been banned since 2008 on aerodynamics suspension and tyres. The sport has changed and came out with a better version each season since its inception.

F1 was originally practiced in Europe which hosts about half of the total races each year, but the scope of the sport has expanded tremendously, and an increasing number of Grand Prix are held on other continents as well. Initiated in 1906, the Grand Prix racing became the most popular competition at the international level by the late 20th Century. The Formula One Group is the legal holder of the commercial rights.