Formula 1's new chief executive officer Chase Carey says he wants to see louder, cheaper and better engines in Formula 1 in the future.

He said that a new direction for engines, along with cost cuts and fairer income distribution would improve racing in the future.

"We are already putting some initiatives in place," he told Germany's Auto Bild this week. "One is the new engine."

Carey was quick to state he was impressed Mercedes' dominant advances with the current engine specification. "Hats off to Mercedes, who mastered what we have now," he said.

"But the difference in performance is too great," he added. "So we want to simplify things with the motto: louder, cheaper, better.

"Another area is costs," the 63-year-old continued. "There are teams that spend $500 million a year right now, while for others it's $100 million. This hinders and distorts the competition.

"The goal must be that the teams can make money in the sport, but the truth is that at the moment no team is making a profit," Carey pointed out.

With Formula E taking over the all-electric side of future car engine development, the question is where Formula 1 will go in response.

FIA president Jean Todt has already said there will be no return to the old V8 and V10 engines of old.

And former world champion Alain Prost has said there is no desire among constructors to go that route either.

"There are no constructors who would like to go back to normally-aspirated engines,” Prost told Crash.net.

“They would like to have engines at least not as complicated as what we have today," he continued. "But keep the electricity involved in a different way, maybe using it in different things.

“They would not like to go back, which makes sense.”



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