F1's V6 turbo-hybrid era is now in its fifth season, with Mercedes winning all eight drivers' and constructors' titles over the first four years.
Ferrari gave Mercedes the closest fight of that spell last season and has made further gains this year, ending Mercedes' qualifying dominance by claiming three of the five poles on offer.
Andy Cowell, Mercedes' High Performance Powertrains boss, believes Ferrari has an edge in qualifying but falls behind in race trim, and said Renault and Honda are also "very close behind".
Asked if manufacturers were now getting to the limit of the current regulations, Cowell replied: "I think that comes down to your belief and understanding of whether there is a limit. I personally don't believe there is a limit. I think you can always find gains.
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