FIA admits mistakes were made with F1 engine supply rules for 2014

Since the new 1.6-litre V6 engines were introduced at the start of last season, it is understood a customer supply costs in the region of €20million.

Ferrari vetoed plans last month to reduce that price to €12million, and Mercedes says it already loses a "substantial" amount of money on supply deals.

"No limit was proposed which was probably a mistake," said Todt on engine prices.

"It doesn't mean a cost limit would have been accepted as we proposed for six years some cost limitations and unfortunately it has never been accepted.

"That is why we are always looking at how can we implement measures which make F1 more affordable."

Todt also conceded the FIA made a mistake in not writing into the rules that engine manufacturers must supply a minimum amount of teams if there is demand.

As it stands, the rules only state manufacturers can supply a maximum of three teams and require dispensation from the FIA to increase that.

Red Bull is currently searching for an engine supply for next year, after its relationship broke down with Renault, and while talks continue with Honda, which only supplies McLaren, there is nothing in the rules to say it must take Red Bull on.

"It should be included in the regulations but it was not included," said Todt of the FIA's mistake.

"The way it is written, you cannot supply more than a certain number which is three but it isn't written a minimum figure of teams you have to supply."

The manufacturers' unwilligness to accept a cost cap on supply deals has prompted the FIA and Bernie Ecclestone to put forward plans for a cheaper 'independent' engine to be introcuded in 2017.