Lewis Hamilton says Ferrari showed "spectacular" pace at times in Australia and will be a threat at the Malaysian Grand Prix.
Sebastian Vettel beat Felipe Massa to third place behind the two Mercedes' in Melbourne, but the battle with the Williams left him over 30 seconds adrift of Hamilton.
While the winning margin was a big one, Hamilton says there were signs of pace from Ferrari which has left him wary of the threat it could pose this year.
"Ferrari have made a huge step and it is great see Ferrari making such a big step which has seen both car and engine [improve]," Hamilton said.
"A lot of people talk about engines being fast, but ultimately it is the car and the downforce that makes as big a difference.
"I hope they continue to make improvements this year. They put some spectacular sectors in the last race weekend so I anticipate they will be strong again."
While praising Ferrari, Hamilton says he finds it "funny" to hear the likes of Red Bull calling for regulations changes to rein in Mercedes.
"I find it quite funny and interesting that the opinion is coming from individuals who have had so much success. Bearing in mind it has only been one race, so to already have comments like this is what I find funny.
"It was a big step for me to come to this team that had so many years of poor performance.
"They hadn’t had the success of other teams and not once did this team complain to others in order to equalise things, they just worked their arses off.
"Joining that team and making that progress, now we are the best team, we have pulled together and done an amazing job. It is not just me here, there are 1000 people back at the two factories who are working day and night to build the best car and we have done that with the same rules and resources as the other teams have had. I am very proud of that.”
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