Mercedes ended 2023 without a win - their first winless campaign since 2011.
They did manage to secure second in the constructors’ championship behind Red Bull, narrowly beating Ferrari at the Abu Dhabi Grand Prix.
Mercedes were ultimately no match for Red Bull, who won 21 of the 22 races.
Also, even though they finished second, it was often their rivals - Aston Martin, Ferrari and McLaren - who could get closest to Max Verstappen during various weekends depending on the track.
Speaking on Sunday in Abu Dhabi, Wolff explained why Mercedes have good “momentum” heading into the winter.
“I mean we have a gap to the leaders, but the two teams in Brackley and Brixworth are so motivated, we have so much good things in the pipeline, so much new things,” he said.
“I am in a really good place to see what’s coming together. We’ve got to take momentum from here and take that momentum into the factories.”
Wolff conceded Mercedes had a “fundamental problem” with the W14, but is adamant if they can make their successor more stable they can make big gains for next year.
“Let’s be honest they have a gap because they got well out of the blocks with the new regulations and in order to catch up, that’s a monumental endeavour... hopefully they level off with their development and speed and we can catch up,” he added.
“Our car is a fundamental problem, it’s not stable, the drivers have no confidence in the car, if we can dial that out, we can make a step forward like other teams have done.”