Max Mosley, the FIA president is determined to cut the costs of competing in the sport of F1. Setting up a budget cap is the right place to start with.

At this point, teams are spending many millions of dollars every year with some of them spending hundreds of them. This has to stop.

“It's absurd that teams spend vast amounts scratching around for tiny gains, running wind-tunnels night and day, using huge amounts of power, to find a tenth of a second can't be justified. That's what's so sad about F1 at the moment”, he told an F1 news media.

Marc Gene, Ferrari’s test driver is concerned about the possibility of Renault hiding its true potential.

McLaren and Ferrari have been on top during the winter tests, with Renault struggling to get into top six places. Alonso’s pace has often been over half a second off the top. However, Gene thinks that Renault might be hiding its true potential and this is something that must be taken under consideration instead of counting the team out.

Kovalainen made the fastest lap in the third and final day of testing in Jerez, driving the new MP4-23. The Finn made a fastest lap 1:17.974 seconds in 96 laps. Lewis Hamilton was fourth fastest with the other McLaren.

Felipe Massa suffered a broken engine during the Sunday’s test at Bahrain. Despite that Massa says he is satisfied with Ferrari’s reliability up to now. Massa is confident that any reliability problems the Ferrari 2008 has right now, will be solved before the season begins, one month from now in Australia.

F1 team Force India has presented its new car for the 2008 season, in a formal happening in Mumbai, India. The new car will have the code name VJM01, which obviously derives from the team's owner name, Vijay Mallya.

The color used during testing has been replaced by a combination of white and gold, with the main sponsor, airline company Kingfisher, covering a good part of the car. We have to add here that the company also belongs to Vijay Mallya. The Indian Billionaire told that he is very proud about taking the chance to represent his country.

World champion Kimi Raikkonen set the pace in Bahrain after completing 74 laps, beating his best time from Tuesday by a tenth of a second with 1:30.455 seconds. This time was about four seconds faster than the fastest lap recorded in 2007 Bahrain Grand Prix, and the fastest qualifying lap for that race was1:31:359 seconds.

Kimi Raikkonen and his compatriot Heikki Kovalainen finished the last day of testing, in Valencia, on top. Kimi Raikkonen made a fastest lap of 1:11.189 while Heikki Kovalainen was just 0.017 seconds behind him.