In 2024, the power unit (PU) development freeze had entered its third year, and seasons of using all of the hardware’s potential and control system maturation continued. Honda Racing Corporation (HRC) addressed problems that had occurred with the previous year’s Honda RBPTH001, and made minor adjustments to further increase reliability. The data from the previous year’s dominating season had confirmed the superiority of the PU, especially in its electrical systems such as regeneration and power delivery. This season, the number of grands prix held was increased to the most in F1 history, 24 rounds, yet Satoshi Tsunoda, LPL, showed no concerns about reliability, saying, “Last season, we were planning to use three PUs (before the number of PUs was increased), so we have no problems at all.” For the 2024 season, HRC confidently introduced the Honda RBPTH002.

Red Bull was off to a promising start with 1-2 finishes in the first two rounds. In Round 3, Australia, Max Verstappen’s car developed brake issues early in the race, ultimately unable to finish. Nonetheless by Round 10, Verstappen had amassed seven wins and was undoubtedly on his way to another drivers’ title. But, from there on, a combination of the competition rapidly catching up and Red Bull’s chassis updates going wrong, the championship was anything but a certainty.

Due to an ever-intensifying chassis performance war, the cars’ height was lowered, and the PU’s underside was often severely damaged when being hit by a curb or other obstacle. In some cases, the PU had to be replaced, and as a result, Sergio Perez was given a grid penalty in Round 12, the British GP and Verstappen likewise in Round 14, the Belgian GP, for using a fifth PU, which went beyond regulation limits. This was an unexpected miscalculation for HRC, which had been confident in its engine’s endurance and reliability.

In the end, Verstappen had amassed such a points lead in the first half of the season, he was able to win his fourth consecutive drivers’ title with his race craftsmanship alone. Red Bull, however, dropped to third place in the constructors’ race. The season’s turnaround from dominating superiority, to close battles, and then to inferior performance, was something no one could have predicted.

From this year, AlphaTauri was renamed to the Visa Cash App RB F1 team. In his fourth year in F1, Yuki Tsunoda finished twelfth in the drivers’ standings with nine points finishes. His best results were three seventh places, and his tenacious racing was highly regarded, but for Tsunoda who was aiming higher, it was a disappointing season.

In 2024, Honda celebrated its 60th anniversary since its first F1 victory, one commemorative event being held at the Suzuka Circuit during the Japanese GP race week in April, to show its gratitude to its fans.