The Ferrari F1/86 was designed as a replacement for the 156/85 used in 1985, which initially proved to be competitive but suffered from increasing reliability issues and lagged behind in the power race as the season developed. The chassis and overall design of the 1986 car were very similar to the 1985 model, with development focused on refining aerodynamics and improving reliability.
The F1/86 was powered by the Tipo 032, the last of Ferrari's 120° turbocharged V6 engines. The engine was regarded as exceptionally powerful, reportedly producing 1,250 bhp (932 kW; 1,267 PS) in qualifying trim, though it was detuned to around 850 bhp (634 kW; 862 PS) for races. Despite this power, the car suffered from handling problems. During qualifying for the French Grand Prix at the shortened Paul Ricard Circuit, Alboreto was able to use the engine's power to blast past the Williams of Nigel Mansell on the long Mistral Straight. However, the car's handling problems became apparent in the corners, with Mansell noting that they were driving much slower than he could have, despite Alboreto being on a qualifying lap. The F1/86 reportedly handled well only on the smoothest of circuits, such as Paul Ricard. Visually, the F1/86 appeared bulky, reminiscent of the 1983 126C3, although it was actually smaller and lower.
Although it was among the fastest cars in a straight line in the 1986 season, often bettered only by the BMW powered cars, the F1/86 performed far worse than its predecessor. Reliability problems were largely eliminated, but it was constantly outpaced by the faster Williams-Honda, McLaren-TAG, Lotus-Renault, and Benetton-BMW. The car achieved five podium finishes during the 1986 season – four for Stefan Johansson and one for Michele Alboreto – but failed to secure a win, pole position, or fastest lap. The car led one lap of the entire 1986 season at the Belgian Grand Prix when Johansson inherited the lead from Mansell, who had made an early pit stop for new tyres. Johansson finished third ahead of team leader Alboreto, despite being instructed via radio to stay behind the Italian. At the Italian Grand Prix, Alboreto was keeping pressure on the Williams of Nigel Mansell and Nelson Piquet before a spin exiting the Variante del Rettifilo chicane ended his challenge. He had previously overtaken Keke Rosberg (McLaren), René Arnoux (Ligier-Renault), and Gerhard Berger (Benetton).
At the Italian Grand Prix, Michele Alboreto was absent from Friday practice and qualifying, with rumors circulating about a slip in the shower or a motorbike accident. During morning practice, Johansson tested Alboreto’s qualifying car and discovered it was considerably more powerful than his own.
Towards the end of the 1986 season, Ferrari recruited English designer John Barnard, then technical director at McLaren, in an attempt to regain ground on their rivals from 1987 onwards. The chassis was replaced by the Gustav Brunner-designed F1/87 model for the 1987 season. 1986 was also the last year for Ferrari's 120° V6 turbo engine, which had been employed since 1981. For 1987, the team introduced an all-new 90° V6 turbo dubbed the Tipo 033.
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