maranello

Ferrari began life after Michael Schumacher on Sunday when they unveiled their new car for the 2007 Formula One season, which they hope will reclaim the world title. The Italian team finished second to Renault in the drivers’ and constructors’ championships last season before Schumacher retired from racing.

Ferrari president Luca di Montezemolo has warned their rivals not to underestimate the reigning champions. ”No one has fallen asleep over these past months,” Montezemolo said on Friday when the world champions launched what they said is their best car to date, but which will not be raced for the first four grands prix of 2005.