Mercedes technical director Paddy Lowe insists his team is taking nothing for granted as they prepare for the first Formula 1 race of the new year in Melbourne, explaining there are still a number of the things the team needs to put right.

The 2014 constructor champions have already been labelled as strong favourites to repeat its success from last season after demonstrating the W06 superior reliability and performance in pre-season testing.

Lowe is pleased by the team's improvements on last year's car but feels maintaining the same high level of performance and reliability in racing is a trickier challenge.

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"So far the car looks to be a step forward in terms of speed and reliability compared to where we were this time last year, so we're hoping for a good result in Melbourne," Lowe said. "Externally there is sure to be a certain level of expectation after testing - but racing is a very different matter. It's an unforgiving business.

"There is a huge amount of work to do and plenty to make sure you get right if you are to come away from a Grand Prix weekend with a strong result. We're not taking anything for granted."

Lowe added the team has been rigorously looking over the FIA rulebook to ensure they are getting every possible advantage available to them.

"All of the preparations concerning the specification of the car, fixes to problems encountered over the winter, dusting off the rulebook to re-familiarise ourselves with the procedures we have to follow - these must all be spot on to ensure a successful start to the racing year."

The Mercedes director confirmed both Lewis Hamilton and Nico Rosberg are fighting fit for the new season and hungry to restart their fierce on-track battle from last year.

"The drivers are certainly in good shape, both are very enthusiastic and eager to let battle commence."