The class is based on the pre-1963
Volkswagen Beetle, utilizing a collection of stock parts to form a competitive race car around a purpose-built tube frame and racing tires. The VW engine, transmission, front suspension, brakes, and wheels are stock or modified stock parts. The body is fiberglass or carbon fiber. The intention of this class is for the average person to be able to build and maintain the car. Over the years, the rules have evolved to improve performance, lower cost, and to allow the replacement of discontinued parts. In 2003,
Grassroots Motorsports presented Formula Vee with the Editors' Choice Award. Unlike many open-wheel formulas, Formula Vee cars are not permitted to use wings or
ground effect to produce aerodynamic downforce. The lack of these features, the limited engine power, and the similar performance of the cars makes taking advantage of
slipstreaming a key tactic. The engines are based on either the 1200cc or 1600cc variants of the Volkswagen Beetle engine. Unlike many amateur categories, competitors are permitted to build and tune their engines themselves, within strict limitations on the extent of modifications from stock permitted. The 1600cc engines used in the Australian Formula Vee series produce approximately "70-75hp"; Purchasing and running a Formula Vee car is relatively affordable compared to most motorsport categories. In 2022, a brand-new race car for the Australian Formula Vee series was estimated to cost approximately AU$50,000 to AU$55,000 (approximately $US37,000), with competitive second-hand cars costing much less. Renting a car for a race meeting was estimated at $A1000 (approximately $US700). In the US, Formula Vee is one of the classes at the
SCCA Runoffs, which awards a national championship. While it is primarily a class in the
Sports Car Club of America, many other organizations have adopted Formula Vee as a class. ==Variants==