Mar.6 (GMM) In stark contrast to a year ago, team president Luca di Montezemolo sounds happy with Ferrari's preparation for the looming F1 season.

Last year's red car was not initially competitive, but the F138 is "meeting all our expectations", the Italian declared.

"In the last two years that wasn't the case, but so far the tests have gone as we've hoped," Montezemolo, at the Geneva motor show, is quoted by La Gazzetta dello Sport.

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