PARIS (Jan. 16, 2014) — The Federation International de l'Automobile (FIA) has renewed Pirelli Tyre S.p.A.'s Formula 1 race tire supply contract for three more seasons, including some key caveats designed to improve safety and performance levels.
The world motorsport's governing body and Pirelli, in collaboration with the F1 teams, have agreed to a number of key changes to the FIA Formula 1 Sporting Regulations regarding tire testing, Pirelli said, including:
1. Dedicating one of the 12 days of official pre-season testing exclusively to wet weather tire testing.
2. Dedicating one of each team's sanctioned eight days of in-season testing exclusively to tire testing.
Pirelli will continue to determine the specification of the tires and to manage all aspects of their development, in close consultation with the FIA and the teams, and within the parameters set out in the FIA regulations, Pirelli said.
Financial terms of the new contract were not disclosed.
Last year the FIA originally extended Pirelli's contact for just one year—through the 2014 season. Pirelli took over as F1's sole tire supplier in 2011.
Pirelli also is the sole race tire supplier for the GP2 and GP3 single-seat, open-wheel racing series — both "feeder series" for Formula 1 — for "multiple" seasons to come, the series' sanctioning body confirmed last fall.
In addition, Pirelli and the FIA have agreed to discuss establishing a possible partnership on the FIA's "Action for Road Safety" campaign.
How have tire prices been in the last few months?
|They've gone up 1-5%||
|They've increased 6-10%||
|They've stayed flat||
|They've gone down between 1 and 5%||
|They've gone down 6-10%||
|They've dropped more than 10%||