There are racing events held by Formula One.
Auto racing ( also known as car racing , motor racing or automobile racing ) is a sport involving the racing of automobiles for competition . Formula One ( also Formula 1 or F1 and officially the FIA Formula One World Championship ) is the highest class of single-seat auto racing that is sanctioned by the Fédération Internationale de l'Automobile ( FIA ) . The F1 season consists of a series of races , known as Grands Prix ( from French , meaning grand prizes ) , held worldwide on purpose-built F1 circuits and public roads . Most events are held in rural locations on purpose-built tracks , but there are several events in city centres throughout the world , with the Monaco Grand Prix being the most famous example . Grand Prix racing began in 1906 and became the most popular type internationally in the second half of the twentieth century .