Ferrari join Mercedes in conceding defeat to Red Bull this season as TP confirms the Maranello F1 team “already working on next year's project” 

Ferrari team boss Federic Vasseur has said that they have already started working on next season's car as they cannot afford to lose more ground to runaway leaders Red Bull.

The Italian team is currently sitting on P4 in the championship but have recently shown signs of progress when they brought upgrades to the Canadian GP last month. However, Vasseur said that the team cannot continue to keep bringing upgrades because of the budget cap.

As per AS, the Ferrari team boss said:

“I can say that we are already working and focused on next year's project as a team, and we are working hard to make great progress.”

Like Ferrari, Mercedes team boss Toto Wolff has also conceded defeat to Red Bull in the 2023 season. Speaking to Motorsport.com, Wolff said:

"I think pretty soon. We have no choice. P2, P3 fundamentally doesn't impact me and the team. It is about coming back to being able to win a world championship. That's not going to happen this year so we need to set our eyes on next year and we will see with all the races to come how we can learn and develop and make sure that we can carry that forward into next year."

He added:

"Having said that, the regulations are the same so we are not learning nothing by continuing with this car. So there is a balance to strike."

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Ferrari team boss on the biggest restrictive factor for them in 2023

Federic Vassuer has stated that the spending limit has really hampered them when it came to developing their car in the 2023 season.

The Ferrari team boss said:

“The biggest determining factor at the moment is the spending limit . For that reason, you cannot create a completely new project within the same season. It could have been done a few years ago, but now thinking about that possibility is already impossible.”

He added:

“We have to adapt the project that already exists and I truly believe that we have taken important steps so far this year. The regulations restrict many things. Therefore, it is very difficult to make great progress during the same season.

It will be interesting to see when teams like Ferrari and Mercedes will actually stop working other 2023 car and try to consolidate their position. Hopefully, the 2024 car would be more competitive as they had been spending quite a bit of time developing it this year.