Things can "only get better" for Ferrari, according to the famous and crisis-struck Italian team's boss Mattia Binotto.

Mugello this weekend is an important weekend for the Maranello marque, as it is taking place at a Ferrari-owned circuit to mark the team's 1000th race.

Also to mark the occasion, Ferrari will race a special livery with a deeper shade of red, while even the sport's official safety car has turned red for the weekend.

However, it is happening just a week after Monza, where the team's embarrassing 2020 slump hit a new low with shockingly poor pace, a brake failure for Sebastian Vettel, and a big crash for Charles Leclerc.

Vettel told Speed Week that simply finishing the race at Mugello would be an improvement.

"That would be a good start, at least for me," said the quadruple world champion.

"But there are no shortcuts in life. We are in this situation because we probably deserve it.

"It's hard, but I'm not the only one who suffers. The whole team does. And I always see myself as part of the team," added Vettel, who is leaving Ferrari at the end of the year and expected to sign for Aston Martin.

"In the last races we had problems getting the car to work 100 percent," he said. "Maybe things are looking a little better for Mugello. But that doesn't mean that we will be on the podium.

"Expectations are very low," Vettel added.

Team boss Binotto denies that Ferrari is in crisis, but at the same time he doesn't take issue with Vettel's assessment.

"After Monza, Sebastian said that it couldn't get any worse, and he was right," he told Rai 3 television.

"But we are working to improve the situation and it can only get better from here."

Explaining the core problem, Binotto admits Ferrari's engine power took a hit for 2020.

"We developed a car based on an advantage that we no longer have today," he admitted.

The Italian says he takes some of the blame for that.

"As head of the team, if I had to make a mea culpa I would say that I didn't understand the difficulties of this car soon enough," said Binotto.

He admits that Mugello will be another difficult weekend, which could be disappointing for the 3000 Italian spectators in attendance.

"I hope they understand what kind of situation we are in," he said of the spectators.

As for Charles Leclerc, Binotto says the team's top driver has time to develop with Ferrari.

"I believe that Charles must not only face the situation, but he must help the team to get out of it. He is still only 22, so he must still grow as a person and as a leader."