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The Zakspeed 881 was a Formula One car designed by Chris Murphy and Heinz Zollner and raced by Zakspeed in the 1988 Formula One Season. The car was the last to be powered by the team's own 1.5 litre straight 4 turbo engine, the 1500/4. The car was driven by veteran Piercarlo Ghinzali and West German F1 rookie Bernd Schneider.

The 881 was a development of the team's 1987 car, the 871, and was a largely unsuccessful car in the last year for turbos in Formula One. Both Ghinzani and Schneider, who replaced 1987 drivers Martin Brundle and Christian Danner, struggled all season to qualify the car even against the slower atmospheric cars. A glaring example of this was at Silverstone for the British Grand Prix. At the fastest circuit on the calendar that should have suited the turbo powered cars, both Ghinzani and Schneider failed to qualify, the Zakspeeds being the only turbo cars not to do so. The 881 was also unreliable, often blowing either the engine or the turbo many times over a race weekend. Neither Zakspeed driver scored a point in 1988, which meant the team was forced to pre-qualify in 1989.

The 881 was the last F1 car in which Zakspeed used their own engines which were rated at about 640 bhp (477 kW; 649 PS) for the season. While this made the engine one of the most powerful in the field, being only about 10 bhp shy of both the Honda and Ferrari engines, that is where the similarities ended. Honda powered McLaren to 15 wins and 15 pole positions during the season, with the other win and pole going to Ferrari. Ghinzani failed to qualify on seven occasions while Schneider failed to qualify ten times.

Bernd Schneider recorded the teams best finish for the year when he finished 12th in his and the teams home race in Germany at Hockenheim.

The 881's replacement, the Zakspeed 891, would be powered by a Yamaha V8 Engine.