Ferrari have acknowledged that Mercedes are too far ahead to challenge at present, but are hopeful of establishing themselves as the second best team this season.

It comes amid Stefano Domenicali’s resignation and the appointment of Marco Mattiacci who will take over the position of team principal with immediate effect.

The team’s engineering director, Pat Fry, says Ferrari’s short-term aim is to get ahead of McLaren, Williams, Force India and Red Bull, and they’re looking at every possible area for improvements.

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