Formula One governing body says Ferrari vetoed engine cost proposal

By Alan Baldwin AUSTIN, Texas (Reuters) - Ferrari vetoed Formula One cost reduction measures that included a proposal to set a maximum price for the engines and gearboxes manufacturers supply to customer teams, the governing FIA said on Monday. The International Automobile Federation said it had studied a range of measures including a global cost ceiling, the use of technical and sporting regulations to cut costs and increased standardisation of parts. "The FIA, in agreement with FOM (the commer