It was a year of slower speeds. Following Firestone's early season withdrawal Goodyear became the sole tyre supplier to Formula 1.

The Shadow team were the early-season pacesetters, but it was Ferrari who took over at the top, Niki Lauda taking the title after scoring five wins. Of the Cosworth runners, Carlos Pace (Brabham) and James Hunt (Hesketh) recorded their first Grand Prix wins, whilst new British drivers Tom Pryce and Tony Brise looked every inch championship material.

The Spanish Grand Prix was a debacle, with drivers threatening a boycott over safety issues. The race went ahead, but an accident saw four bystanders killed and proceedings were halted.

The year ended on a sombre note with the death in an air crash of Graham Hill, Tony Brise and members of the Embassy team.