Ferrari this week joined arch-rival Mercedes in revealing its 2018 car.
Like Mercedes's offering, the new and even redder single seater is clearly an evolution of the 2017 car.
Ferrari's Sebastian Vettel said: "Mercedes remains the reference, but I do not think we are in the outsider role."
Yet the German added that it is too early to say which of the other cars that have been launched may also be contenders in 2018.
"Clearly you look at the presentations of the other cars and ask the designers for their opinion," said Vettel.
"But it's still difficult to judge. The quality and angle of the photos plays a big role, so I will only form a first judgement in the tests.
"But so far I can say that I have not seen anything in the others that makes me worried."
Ferrari came second to Mercedes by 146 points in the 2017 constructors' championship.