Alloy wheels are different from Steel made wheels in many different ways:

1. Mostly they are lighter but are of the same strenght
2. They have the capacity to handle more heat
3. Cosmetically they are better looking

In Formula 1 by reducing unsprung mass lighter wheels give better performance this then allows them more grip by following the surface terrain more closely. In all cases however it is not true that steel wheels are heavier than the same size wheels alloys. You can help to reduce the overall fuel consumption by reducing the overall mass of the car.

With alloys brakes will perform better as they conduct the heat allowing the brakes to breathe more during more demanding driving conditions which in turn mimimizes the chance of overheating and brake failiure.

Alloys wheels are not only better looking cosmetically they also improve the driving experience and performance. Most of the alloys which are used are predominantly corrosion-resistant, which in turn permits an eye pleasing bare-metal finish, which eliminates the need for wheel covers or paint, and the manufacturing processes allow intricate, bold designs. In contrast, steel wheels are usually pressed from sheet metal, and then welded together (often leaving unsightly bumps) and must be painted (as they corrode otherwise) and/or hidden with wheel covers / hub caps.

The cost of producing alloy wheels is much more to produce in contrast with steel wheels, and because of this are rarely included in the standard spec of the car, these are normally marketed as optional extras or as part of a more exclusive package. Since 200 however, alloy wheels become considerably more common and are now being offerd on small to medium sized cars whereas a decade ago they were only available on luxury and sports models. On the downside alloy wheels are are attacted to thieves because of their high cost and demand on the second hand market but manufacturers have come up with ways to couter this by introducing locking wheel nuts which require a signature key to removeT.

Alloy wheels are mostly manufactured using the casting method but the more expensive, lighter and stonger alloys are manufacutured using the forging process