The McLaren-Honda Formula 1 team believes that its chassis is now as good as Ferrari’s and that the only thing holding it back from podium finishes is the car’s underpowered engine.

The British racing outfit’s director Eric Boullier recently told Motorsport that the team’s chassis is in the top three of the field, sitting just behind Red Bull Racing and Mercedes.

It is the lack of power that is crippling McLaren-Honda, however, so Boullier said it’s hard to directly compare its car against those capable of winning races.

“It’s difficult to make comparisons, because you cannot compare high, low and medium speed,” he said.

“Our chassis is aerodynamically efficient. But if you have more power, you can also bring more downforce. But more downforce means more drag, which we cannot afford now because we do not have enough horsepower. When Honda brings an upgrade, we too can bring a bigger aerodynamic upgrade. That then brings more downforce and drag, and it works.”

Honda is under serious pressure to develop its engine for the 2017 season. If it matches the power of the Mercedes unit, Boullier believes the team won’t only be fighting for wins but also for the drivers’ and teams’ championships.

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