Renault needs to "capitalise" on 2017 rule changes

The French manufacturer has returned to F1 with its own team this year, having taken over the Lotus team at the end of 2015.

But the start of the season has proved challenging for Renault, which has scored just once in five races.

Magnussen concedes 2016 was always going to be a transition year for the team ahead of a stronger challenge next year.

"It is definitely a transition year," Magnussen told Motorsport.com. "Because we picked up a team that was struggling a lot financially, so development was standing still for a while.

"We are picking that up and putting development on the car and that takes time so this would be a transition year.

"And also with the rule changes next year we need to capitalise on that. It doesn't mean that everyone does a complete reset, but it's something that we need to take advantage of."

The Dane has no doubt that Renault will be capable of fighting for the championship in the future once its structure is what it should be following the problems Lotus faced.

When asked if it was possible for Renault to challenge for titles, he said: "Definitely is.

"It's still a very small team. They lost a lot of people when it was Lotus because it was struggling. And now it's going back again. We will see.

"But I think we have a good direction, as I said. And a good plan. We just need everyone to get involved and feel that everyone can make a difference. And that's the most important, I think.

"And I feel we are in a good place."

Interview by Oleg Karpov