Ferrari introduces its new car at this weekend's Bahrain Grand Prix.
After a modified version of last year's car secured just 10 points from the season's first two races, Ferrari aborted plans to persist with it for another two races.
It had to do something -- Renault is 16 points ahead of the fourth-place Italian team.
Defending champion Michael Schumacher and teammate Rubens Barrichello have failed to finish a race each, with Schumacher's best finish a seventh place at the Malaysian Grand Prix two weeks ago. Barrichello was second in the season-opener in Australia.
Although Renault won both races, Schumacher insists Ferrari's change of plans isn't a sign of panic.
"If I told you last year that we may fall back behind, you wouldn't have believed that," Schumacher said. "Believe me now -- we can come back.
"I think we have the resources, we have the human manpower, we have everything in our hands to move on."
Ferrari dominated last year's race -- the first held in the Middle Eastern country. Schumacher, on his way to a record seventh championship, was in the middle of a five-race winning streak and Barrichello finished second.
Although Schumacher won by barely a second, he let up in the final lap after being 10 seconds ahead. He went on to clinch his fifth straight title with four races left, and Ferrari took 15 of 18 races.
Now he is getting a taste of what it is to be in the middle of the pack. With Ferrari having qualified no higher than 11th this season, the German is drawing on memories of two years ago.
"We have had tough years before," Schumacher said.
"I remember 2003, when we had eight points in the first three races."
Renault's level of performance is reminiscent of Ferrari's the past seven seasons, when it won the constructors championship each year.
Fernando Alonso was third in Australia and won in Malaysia to top the drivers' standings from second-place Giancarlo Fisichella, who took the first race.
"It's nice to compete with your teammate," Alonso said. "It means the car is more competitive than most."
Alonso, the first Spaniard to lead the F1 drivers' standings, has 16 points to Fisichella's 10. Barrichello is in a four-way tie for third, while Schumacher languishes in 11th on two points.
"Leading the championship is not a problem. It is not putting any pressure on me," Alonso said. "There would be pressure if we were in last two races of the season.
"Now it is not a real picture of the championship."
Still, he's aware of the threat the new Ferrari may pose to Renault's early season dominance.
"Ferrari is a very strong team and one of the favorites," he said. "The new car has more potential."
Schumacher agrees after driving the new car last week.
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