Ferrari chairman Sergio Marchionne not expecting 'miracles' on eve of Formula One opener

Despite good form in testing, Ferrari chairman Sergio Marchionne does not expect 'miracles from the team' at the first Grand Prix of the Formula One season in Australia.

Sebastian Vettel and Kimi Raikkonen were quickest on three of the four days of the first test in Jerez last week, after a tough 2014 season when the Italian team failed to win a race. 

Marchionne said that he is 'encouraged' by the performance of the new car, though he insisted it is one thing to do a quick lap, another to do an entire race, the BBC reported.

The Italian said that he has 'so much confidence' in the work of the boys, adding that he is 'proud of their work'. He said that now, they would see when the World Championship starts in Australia, but it is 'important to see progress'. Marchionne said that at the Barcelona test, which starts on February 19, he expects the 'ultimate proof' of what Ferrari has done so far.

The new season, which would feature 20 races, starts on March 15  in Melbourne, the report added.