Although Nico Rosberg claimed an uncontested victory in Australia, Toto Wolff is adamant it's too early to call Merc the title favourites.
While Lewis Hamilton claimed pole position, it was his team-mate Rosberg who romped to the victory in Melbourne on Sunday, a comfortable 27 seconds ahead of second-placed Kevin Magnussen.
It was an impressive showing from the Brackley team, who also claimed the fastest lap of the grand prix.
But despite his team's hat-trick, Wolff reckons the results did not tell the full story.
"We have a margin performance-wise, but it's not an awful lot," said the Mercedes executive director.
"If you look at where Red Bull have come from after very...
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