Mercedes F1 News: Team Reaches Staggering Milestone Despite Performance Struggles

Mercedes F1 has set a new financial record with a turnover surpassing £500 million, highlighting their commercial strength amidst ongoing racing challenges.

Mercedes AMG Petronas driver Lewis Hamilton rounds turn 17 during the first F1 practice at Circuit / Aaron E. Martinez/American-Statesman /

Despite facing challenges on the track, Mercedes' Formula 1 team has accomplished a significant financial milestone, recording a staggering 2023 turnover exceeding £500 million.

Key Takeaways:

• Mercedes-Benz Grand Prix Ltd announced a record-breaking turnover of £546.5 million for 2023, the highest in F1 team history.
• Despite the financial success, the team's profit declined to £83.8 million in 2023, a decrease from the previous year's £89.7 million.
• On-track struggles persist into 2024, with Mercedes yet to achieve a podium finish and Lewis Hamilton announcing his departure to Ferrari at season's end.

Mercedes' Formula 1 operations have hit a new financial peak, with Mercedes-Benz Grand Prix Ltd reporting a turnover of £546.5 million in 2023. This achievement marks them as the first team in the sport to surpass the half-billion-pound turnover threshold.

2023's financial success represents an increase of £71.9 million over the previous year, when the team's turnover stood at £474.6 million. Despite finishing second in the constructors' championship last season, Mercedes has demonstrated that their commercial and marketing strategies continue to yield substantial revenue.

However, the financial report was not entirely positive. The team saw a decrease in profit, down by £5.9 million from 2022, with the final figure standing at £83.8 million. This drop has been attributed to rising operational costs and increased tax liabilities.

Mercedes' performance this year has been lacklustre, with the team continuing to encounter issues with the W15. They currently trail behind their customer team, McLaren, and are only narrowly ahead of Aston Martin in the constructor standings. This situation is compounded by Lewis Hamilton's announcement that he will be leaving Mercedes for Ferrari at the end of the year.