Yep, you have mechanical failures enabled. You'll blow your engine or it'll expire if abused.
Wheels can come off and you'll maybe get back to the pits. Damage if you have it set to performance effecting and not cosmetic can effect handling..
I'm hopefully hoping they get the pit crews and pit animation completed into a patch for release day.
Wow nice interesting to know

just wondering how you would gauge the abuse of the engine in the game is there something to tell you if you are giving it too much abuse ?