"We don’t really need to do Formula 1" - Volkswagen CEO says they 'have other priorities strategically' just a day after confirming Porsche and Audi's F1 entry

Volkswagen Group CEO Herbert Diess recently confirmed Porsche and Audi's F1 entry, but he clarified the very next day that this was not the organization's main priority, emphasizing that the decision to join F1 was not unanimous among the members of the VW board.

As reported by PlanetF1, the 63-year-old revealed that VW does not "really need to do Formula 1":

“We certainly have other priorities strategically. It’s not necessarily motorsport, but our cars have to be technically up to date, we have to be able to drive autonomously, we need the software capabilities, we need batteries for our cars. We have enough to do and we don’t really need to do Formula 1."

He further adds:

"But our premium brands say that’s the most important lever to increase the brand value and to be able to take a little bit more for the cars in terms of pricing. And also to demonstrate to the competition that you have superior technology, in the case of Audi. That’s why the Board of Management and the Supervisory Board have all voted in favour of this. Audi still has to decide in which constellation and with which team. But both have started to develop engines."

Comparing the two brands and their relevance in the sport, he added:

"You come to the conclusion: if Porsche does motorsport, the most efficient thing is to do Formula 1. You almost have to put a check mark on that. Audi is a much weaker brand than Porsche. It can’t demand such a high price premium. Audi actually has the better case for Formula 1 because it has much greater potential for the brand. They are moving into the higher segments, into competition with Daimler, and then Audi will also have a case where they say that makes sense. Audi also transfers four or five billion a year to Wolfsburg, and it will also transfer more with Formula 1 than without."

Porsche is reportedly in talks to partner-up with four-time world champion Red Bull while Audi plans to enter F1 as a constructor instead of just a power-unit supplier.

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F1 to try a modified qualifying format in 2023

With the aim of cutting back on the sets of tires used over the course of a Grand Prix weekend, it was reported that the number of tire sets available to drivers will be reduced from 13 to 11 at two race weekends next season.

A statement from the FIA stated:

"This will be done to evaluate the impact of the reduction in tyre allocation on track-running, with the overall intention to move to more sustainable use of tyres in the future."

Currently, drivers have the option to freely choose their tire compounds in all three parts of qualifying, but the choice will be mandated during next year's trial period.