Lewis Hamilton has said that he expects this year's title race to be a "close battle" with Sebastian Vettel.
The Brit was in pole for the season opener in Melbourne today but was forced to settle for second place on the podium after the German raced home with a 10-second advantage.
"It is going to be a close race," Hamilton told reporters afterwards. "I truly believe we can beat them. It's great to see Ferrari there. It's good we had this close battle. I'm looking forward to the next.
"I wouldn't say I'm happy. But all things in perspective. To see where we have come from, with massive rule changes and to come here and be battling so close for a win and missing out marginally, there are a lot of things to be proud of.
"We could have won the race but I gave it everything I could and you can't do more. Take the strength of the weekend."
Next up on the calendar is the Chinese Grand Prix in Shanghai in a fortnight.