Pat Fry admitted that trying to beat dominant Mercedes is "currently" not a realistic goal.
Apr.17 (GMM) Ferrari may already be looking to write off the 2014 title.
After a bad start to the new turbo V6 era for the fabled Italian team, Ferrari is just fifth in the constructors' championship, behind rival Mercedes and Renault-powered teams.
Technical boss Pat Fry admitted this week that trying to beat dominant Mercedes is "currently" not a realistic goal.
"Our first priority," he said, "is to establish ourselves as the second best team."
After failing to preside over even a single podium at any of the opening three races of the season, team boss Stefano Domenicali quit his post.
Team president Luca di Montezemolo has now admitted the clock is ticking on Ferrari's 2014 hopes.
"The next four or five races will be decisive in seeing whether we can catch up with Mercedes (this season)," he is quoted by the Italian press.