The 2012 season saw several changes to team names. Lotus became Caterham, reflecting team principal Tony Fernandes’s purchase of Caterham Cars. Renault changed its constructor name to Lotus after Lotus Cars expanded its sponsorship program. Virgin became Marussia, following increased ownership by Russian sports car manufacturer Marussia Motors. At the November 2011 meeting of the Formula One Commission in Geneva, several teams were given permission to change their constructor names, with final approval from the World Motor Sport Council granted in December of that year. These changes resolved a dispute over the use of the Lotus name, with Group Lotus gaining ownership of both “Lotus” and “Team Lotus”.
The season began with Jenson Button winning the Australian Grand Prix, followed by a tumultuous start with seven different race winners in the first seven races. Nico Rosberg secured his first win for Mercedes in China, while Lewis Hamilton took victory in Canada. Kimi Räikkönen returned to Formula One with Lotus, achieving podium finishes throughout the season.
Fernando Alonso emerged as a championship contender after winning the European Grand Prix in June, and maintained the championship lead for the next seven races. He won in Germany and finished on the podium in the United Kingdom, Italy and Singapore. However, costly retirements in Belgium and Japan allowed his rivals to catch up. Sebastian Vettel took the lead in the sixteenth race of the season, despite encountering difficulties, including contact with a backmarker in Malaysia and alternator failures in Europe and Italy. He also faced a pit lane start in Abu Dhabi due to an exclusion from qualifying.
The Belgian Grand Prix was marked by a first-lap collision involving Romain Grosjean, Lewis Hamilton, Fernando Alonso, and Sergio Pérez, resulting in a one-race ban for Grosjean. The United States Grand Prix saw Red Bull Racing secure their third consecutive World Constructors' Championship title. In Abu Dhabi, Vettel faced issues in qualifying, starting from the pit lane, but fought his way through the field.
The 2012 season marked the final race for seven-time World Champion Michael Schumacher, who announced his retirement from Formula One for the second time after the Brazilian Grand Prix.
The 2012 season broke several records, including a twenty-race calendar – surpassing the previous record of nineteen set in 2005. Six current or former World Drivers' Champions – Sebastian Vettel, Fernando Alonso, Jenson Button, Lewis Hamilton, Kimi Räikkönen, and Michael Schumacher – started the season, breaking the record of five established in 1970.
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