Bernie Ecclestone says new engines could be scrapped 

The new engine formula planned for 2014 and beyond may very well be scrapped, according to Bernie Ecclestone who strongly opposes the change.
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Plans are currently in place to replace the current 2.4 litre V8 engines with 1.6 litre turbo-charged V6 engines in a bid to improve the sports environmental image.

The revelation comes after Ecclestone attended a fire-up of the new engine, which are currently under development by Ferrari, Renault and Mercedes.

“I listened to the noise of the engines in Maranello the other day, the new engine and the old engine, and even Luca di Montezemolo (Ferrari Chairman) said it sounded terrible and didn’t like it,” Christian Sylt quotes the 81-year-old as saying.

Ecclestone is confident that FIA president Jean Todt and Di Montezemolo will agree to at least delaying the engines which have spiralled in cost, despite F1 entering a budget reducing era.

“[Todt] will get rid of it,” he said, adding: “I think Luca is also saying we should suspend it for two or three years. I think it is sensible to get rid of it and stick with what we have got. It is much cheaper than the new one. It probably could be 30% of the price.”

Source: The F1 Times

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