The F399 was almost identical to the previous season's F300, with small detail changes like a new front wing, wheel tethers, waisted sidepods, and an improved exhaust system. It was initially driven by Michael Schumacher and Eddie Irvine, with Mika Salo substituting for Schumacher when he broke his leg at Silverstone). Although the team's quest to win their first drivers' title since 1979 was halted by Schumacher's injury and the faster speed of the McLaren MP4/14, they managed to clinch their first constructors' title since 1983.
The chassis of the Ferrari F399 featured a reinforced carbon-fibre and honeycomb monocoque structure that could protect the driver from most accidents. The engine used a mid-engine, rear-wheel drive layout. Changes from the F300 included a slightly modified front wing, waisted sidepods, and an improved exhaust system.
The suspension for the front and rear areas of the car were pushrod/double wishbone suspension systems. The car also featured wheel tethers on each wheel to prevent the tires from hitting the driver's head, a regulation that is still used by Formula One. The engine was a 790 BHP (552 KW), 80-degree 3.0 litre V10 manufactured by Ferrari called the Tipo 048/B/C. It utilized a 7-shift transmission.
The car used Shell fuel and Bridgestone tyres. These tyres featured four grooves on all four tyres instead of three grooves on the front tyres, following a new rule change for the 1999 season and onward in the V10 era.
Early in the season the car showed huge performance with Irvine winning the opening round in Australia while Schumacher collected podiums along with wins at Imola and Monaco, making Ferrari a serious threat to the McLaren duo of Mika Häkkinen and David Coulthard throughout much of the 1999 season.
While Irvine would also go on to win back-to-back victories at Austria and Germany along with the inaugural Malaysian Grand Prix, Häkkinen and McLaren showed great consistency despite four retirements over the course of the season. Ferrari's championship aspirations took a beating after Schumacher broke his leg at Silverstone), resulting in Ferrari briefly replacing him with Mika Salo. Salo handed victory to Irvine in Germany and finished third at Monza.
The team was briefly excluded from Malaysia after the stewards found out that their bargeboards were illegal, meaning that Häkkinen and McLaren were effectively handed their respective championships by default. However, Ferrari managed to appeal against the FIA's decision in court and both of their drivers were subsequently reinstated. After the season had ended, Häkkinen had claimed the driver's title by two points from Irvine while Ferrari claimed the constructor's title by four points from McLaren.
Ferrari used 'Marlboro' logos, except at the French and British Grands Prix, where they were replaced with a chevron and barcode. In Belgium, the logos were replaced with the text "Ferrari Formula One Team" and the "F1" logo.
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