Format has a HUGE effect on file size
Whoever is claims format is like a car obviously has no idea what a format entails, or even how programming works outside of the basic nuts and bolts of a bitrate.
According to your extremely incorrect logic, a .wav at 192 kbps for 1 minute is 11520 kb file or, 11.25 mb file. The .mp3 file should be the exact same right, Its a Ferrari and a Toyota issue right? No, you're absolutely incorrect.
Lets just take ONE example of this. An mp3 file is coded based on psychoacoustics. (Wait you mean its not just a multiplication problem?!?!) It takes the sound recorded bit for bit by the microphones or whatever source media it has and removes frequencies that the human ear can not perceive, or if you tell it to code down to an even smaller file it removes frequencies that the human ear can not perceive very well; it continues taking frequencies out of the sound based on how it sounds to the human ear until it reaches the point where it is removing clearly audible frequencies.
The same technique is used for videos, such as in the JPEG format. If a similar color is repeated in a line, the video (since it is digital, NOT analog) will code it as "Pixel number 1 through 22 are all exactly or very similar to the color black" instead of "Pixel 1 is black. Pixel 2 is black. Pixel 3 is black. Pixel 4 is black, etc." Thusly 22 pixels is encoded in significantly LESS data than if it was simply said explicitly. Since, again it is DIGITAL, not ANALOG, the device can read this small piece of data, process it and display it as if it were coded pixel per pixel.
The DISPLAY rate will be the same bitrate, ONLY after the smaller size has been processed and resized to the screen of the device.
So, please, next time dont oversimplify and demean a very advanced concept and codec, developed by a lot of extremely intelligent people into a multiplication problem. It isn't.