Formula 1 2017 in Scale

[techcmb]

I was wondering if a F1 car 2017 (i.e.Mercedes) could be scaled 1:2, is there a way to determine performances about max speed, horse power, fuel consumption, etc.

Is it just a mathematical formula dividing values by 2, 4 (square) or 8 (cubic), or something more?

Thank you for any advice.