The admission from team boss Mattia Binotto came as Sebastian Vettel suffered the first mechanical failure of testing with an engine failure.
Binotto said: "I am not as optimistic as last year so it means the others are faster than us at the moment.
"How much faster it's really difficult to judge. We will go through all the data."
The first of two three-day pre-season tests came to an end on Friday at Barcelona's Circuit de Barcelona-Catalunya with Mercedes drivers Valtteri Bottas and Lewis Hamilton topping the timesheets.
Bottas set the fastest time of the winter, 0.8 seconds quicker than Hamilton and well over a second quicker than anyone else managed.
Post update
Not all the drama happens in F1.
Watch this incredible story about rally driver Chris Ingram who recently won the European Rally Championship.
He became the first British driver in 52 years to win the title, but what made his victory even more special was that he did it with almost zero funding.
All the times from the afternoon session
Valtteri Bottas 1:15.732 (Mercedes) laps - 65 (ultra-softs)
Lewis Hamilton 1:16.516 (Mercedes) laps - 73 (ultra-softs)
Esteban Ocon 1:17.102 (Renault) laps - 76 (softs)
Lance Stroll 1:17.338 (Racing Point) laps - 116 (softs)
Daniil Kvyat 1:17.427 (Alpha Tauri) laps - 62 (softs)
Antonio Giovinazzi 1:17.469 (Alfa Romeo) laps - 152 (ultra-softs)
Daniel Ricciardo 1:17.574 (Renault) laps - 93 (softs)
Max Verstappen 1:17.636 (Red Bull) laps - 86 (hards)
Pierre Gasly 1:17.783 (Alpha Tauri) laps - 59 (hards)
Alex Albon 1:18.154 (Red Bull) laps - 83 (hards)
Carlos Sainz 1:18.274 (McLaren) laps - 76 (hards)
Romain Grosjean 1:18.380 (Haas) laps - 48 (mediums)
Sebastian Vettel 1:18.384 (Ferrari) laps - 100 (mediums)
Lando Norris 1:18.454 (McLaren) laps - 49 (mediums)
Nicholas Latifi 1:19.004 (Williams) laps - 72 (mediums)
Kevin Magnussen 1:19.709 (Haas) laps - 4 (hards)
Chequered flag
Valtteri Bottas ends the final test session of the week as the fastest driver.
He ended up being only three tenths off his pole time that he set last year, with a super quick 1:15.732 - which is insane!
For those of you who love your tyre compounds - Bottas set his quickest time on the ultra-softs.
His team-mate Lewis Hamilton also clocked his best lap on the ultra-softs but was 0.784s slower.
Ferrari team principal Mattia Binotto has
acknowledged the Scuderia is trailing Red Bull and Mercedes but also says the Ferrari SF1000 is still being sorted out.
“It's difficult to say because we're not
looking at performance yet - we've not optimised the car, that will be clearer
next week,” he said when asked if Ferrari is where he expected it to be.
The new Ferrari was designed with greater
flexibility in the setup than last year’s SF90 and Binotto revealed the team
had not tried extreme setups on the car or optimising the car in
various conditions and setups.
"It's about being ready to have a
good picture of the car and understand what's going wrong, if anything, and
addressing it,” he said. “I don’t think it's been an issue
through the first days, it's a matter of knowing and
understanding the new car and the new package.”
Post update
Carlos Sainz appears happy with his first week of testing.
Valtteri Bottas 1:15.732 (Mercedes) laps - 65 (ultra-softs)
Lewis Hamilton 1:16.516 (Mercedes) laps - 56 (ultra-softs)
Esteban Ocon 1:17.102 (Renault) laps - 76 (softs)
A mini spin for Ricciardo
The Renault driver is back on his way again, but had a small scare at Turn 13, on only his second lap on the soft tyres.
Get Involved #bbcf1
What is your favourite F1 livery of all time?
Adore the Shadow - fantastic car!
Russ OtwayCopyright: Russ Otway
MatCopyright: Mat
Arno KenisCopyright: Arno Kenis
Post update
Dan Knutson
F1 journalist in Barcelona
The
screens are up as the Haas mechanics repair the car that Kevin Magnussen
crashed.
Meanwhile,
many of the other garages have no cars in them as the drivers are piling up the
laps.
Dan KnutsonCopyright: Dan Knutson
Post update
Hamilton is back on the medium tyres.
He has 40 minutes to try and better Bottas' time.
Still 0.784s separates the team-mates with Valtteri having the edge.
Bottas must really like this track, as he also holds the out-right lap record. He did a 1:15.406 to take pole position in 2019.
Get Involved #bbcf1
Your thoughts on the news that Mercedes' new steering system will be be banned for 2021
Ian Mellors: Well done FIA for allowing DAS for this season, all too often innovation is stifled just because Ferrari/Renault have not thought of it. DAS is banned for next season, but not toe adjustment, it could be allowed if it was automatic, say operated via the steering input.
Gerard Boyd: With the first GP just weeks away what chance do other teams have to develop and fully test (as Mercedes are doing right now) a new steering system for mid-season say? You may as well write-off the season with that plan. But Mercedes? Yeah, on you go?
Sven: All this talk about F1 banning things being contradictory to being innovative. It isn't. Sure, it is quite a clever development which I am very interested in but that doesn't mean it is necessarily in the spirit of the rules. Think back to Renault's mass damper of mid 00s
Here's the latest times
There's only 45 minutes left to the final test session of the week.
Live Reporting
Victoria Turner
All times stated are UK
Getty ImagesCopyright: Getty Images -
Valtteri Bottas 1:15.732 (Mercedes) laps - 65 (ultra-softs)
-
Lewis Hamilton 1:16.516 (Mercedes) laps - 73 (ultra-softs)
-
Esteban Ocon 1:17.102 (Renault) laps - 76 (softs)
-
Lance Stroll 1:17.338 (Racing Point) laps - 116 (softs)
-
Daniil Kvyat 1:17.427 (Alpha Tauri) laps - 62 (softs)
-
Antonio Giovinazzi 1:17.469 (Alfa Romeo) laps - 152 (ultra-softs)
-
Daniel Ricciardo 1:17.574 (Renault) laps - 93 (softs)
-
Max Verstappen 1:17.636 (Red Bull) laps - 86 (hards)
-
Pierre Gasly 1:17.783 (Alpha Tauri) laps - 59 (hards)
-
Alex Albon 1:18.154 (Red Bull) laps - 83 (hards)
-
Carlos Sainz 1:18.274 (McLaren) laps - 76 (hards)
-
Romain Grosjean 1:18.380 (Haas) laps - 48 (mediums)
-
Sebastian Vettel 1:18.384 (Ferrari) laps - 100 (mediums)
-
Lando Norris 1:18.454 (McLaren) laps - 49 (mediums)
-
Nicholas Latifi 1:19.004 (Williams) laps - 72 (mediums)
-
Kevin Magnussen 1:19.709 (Haas) laps - 4 (hards)
View more on twitterView more on twitter Alan RichardsonCopyright: Alan Richardson PritskiCopyright: Pritski Gareth HughesCopyright: Gareth Hughes View more on twitterView more on twitter View more on twitterView more on twitter -
Valtteri Bottas 1:15.732 (Mercedes) laps - 65 (ultra-softs)
-
Lewis Hamilton 1:16.516 (Mercedes) laps - 56 (ultra-softs)
-
Esteban Ocon 1:17.102 (Renault) laps - 76 (softs)
Russ OtwayCopyright: Russ Otway MatCopyright: Mat Arno KenisCopyright: Arno Kenis Dan KnutsonCopyright: Dan Knutson F1Copyright: F1 View more on twitterView more on twitter View more on twitterView more on twitter
Latest PostGoodbye!
Thanks for joining us throughout this first week of F1 pre-season testing.
Let's do it all again next week - starting on Wednesday.
Ferrari behind rivals as Vettel breaks down - read the report
Andrew Benson
BBC Sport’s chief F1 writer
Ferrari say they are lagging behind rivals Mercedes and Red Bull at the halfway point of pre-season testing.
The admission from team boss Mattia Binotto came as Sebastian Vettel suffered the first mechanical failure of testing with an engine failure.
Binotto said: "I am not as optimistic as last year so it means the others are faster than us at the moment.
"How much faster it's really difficult to judge. We will go through all the data."
The first of two three-day pre-season tests came to an end on Friday at Barcelona's Circuit de Barcelona-Catalunya with Mercedes drivers Valtteri Bottas and Lewis Hamilton topping the timesheets.
Bottas set the fastest time of the winter, 0.8 seconds quicker than Hamilton and well over a second quicker than anyone else managed.
Post update
Not all the drama happens in F1.
Watch this incredible story about rally driver Chris Ingram who recently won the European Rally Championship.
He became the first British driver in 52 years to win the title, but what made his victory even more special was that he did it with almost zero funding.
All the times from the afternoon session
Chequered flag
Valtteri Bottas ends the final test session of the week as the fastest driver.
He ended up being only three tenths off his pole time that he set last year, with a super quick 1:15.732 - which is insane!
For those of you who love your tyre compounds - Bottas set his quickest time on the ultra-softs.
His team-mate Lewis Hamilton also clocked his best lap on the ultra-softs but was 0.784s slower.
Post update
Helmet decisions for George Russell.
I like the one on the left.
Get Involved #bbcf1
What is your favourite F1 livery of all time?
Thank you for all of your suggestions - they have all been superb!
Post update
Another driver who has been happy with what he has achieved from the first week of testing is Max Verstappen.
No other driver has managed to beat him in terms of laps completed on a single day. The Red Bull did 168 rotations on Wednesday - pretty impressive.
Ferrari has not gone to extremes yet
Dan Knutson
F1 journalist in Barcelona
Ferrari team principal Mattia Binotto has acknowledged the Scuderia is trailing Red Bull and Mercedes but also says the Ferrari SF1000 is still being sorted out.
“It's difficult to say because we're not looking at performance yet - we've not optimised the car, that will be clearer next week,” he said when asked if Ferrari is where he expected it to be.
The new Ferrari was designed with greater flexibility in the setup than last year’s SF90 and Binotto revealed the team had not tried extreme setups on the car or optimising the car in various conditions and setups.
"It's about being ready to have a good picture of the car and understand what's going wrong, if anything, and addressing it,” he said. “I don’t think it's been an issue through the first days, it's a matter of knowing and understanding the new car and the new package.”
Post update
Carlos Sainz appears happy with his first week of testing.
The top three with 30 minutes to go
A mini spin for Ricciardo
The Renault driver is back on his way again, but had a small scare at Turn 13, on only his second lap on the soft tyres.
Get Involved #bbcf1
What is your favourite F1 livery of all time?
Adore the Shadow - fantastic car!
Post update
Dan Knutson
F1 journalist in Barcelona
The screens are up as the Haas mechanics repair the car that Kevin Magnussen crashed.
Meanwhile, many of the other garages have no cars in them as the drivers are piling up the laps.
Post update
Hamilton is back on the medium tyres.
He has 40 minutes to try and better Bottas' time.
Still 0.784s separates the team-mates with Valtteri having the edge.
Bottas must really like this track, as he also holds the out-right lap record. He did a 1:15.406 to take pole position in 2019.
Get Involved #bbcf1
Your thoughts on the news that Mercedes' new steering system will be be banned for 2021
Ian Mellors: Well done FIA for allowing DAS for this season, all too often innovation is stifled just because Ferrari/Renault have not thought of it. DAS is banned for next season, but not toe adjustment, it could be allowed if it was automatic, say operated via the steering input.
Gerard Boyd: With the first GP just weeks away what chance do other teams have to develop and fully test (as Mercedes are doing right now) a new steering system for mid-season say? You may as well write-off the season with that plan. But Mercedes? Yeah, on you go?
Sven: All this talk about F1 banning things being contradictory to being innovative. It isn't. Sure, it is quite a clever development which I am very interested in but that doesn't mean it is necessarily in the spirit of the rules. Think back to Renault's mass damper of mid 00s
Here's the latest times
There's only 45 minutes left to the final test session of the week.
The rookie is back out!
Race simulation runs
Some of the teams in this session will be undertaking a race simulation run.
66 laps of the Circuit de Barcelona-Catalunya amounts to a full race distance.
Post update
Good news for Ricciardo fans - he should be out soon.