"What we have seen is that even if it is best case we are not in front by a lot, and if it is a worst case we are not far behind," says Wolff
Thursday 13 December 2018 16:18, UK
Mercedes expect a three-way fight for supremacy in 2018 with the world champions unsure if they will start the season ahead of Ferrari and Red Bull.
On the first day of the second and final test at Barcelona, Sebastian Vettel was fastest for Ferrari, two tenths clear of both Mercedes' Valtteri Bottas and Red Bull's Max Verstappen.
Test Two: Ferrari outpace Red Bull and Mercedes on Day One
While F1 Testing is a guessing game from the timesheets, the teams are privy to enough information to at least formulate an educated impression of the nascent pecking order.
And all the signs from the early stages of the second and final test is that Mercedes, Ferrari and Red Bull could start the new season in close proximity at the front of the grid.
Asked by Sky Sports how Mercedes adjudged the pecking order, Wolff said: "We have a worst case and a best case.
"What we have seen is that even if it is best case we are not in front by a lot, and if it is a worst case we are not far behind."
F1 Testing: Fastest laps so far
F1 2018: Schedule and test dates
While Ferrari's challenge was anticipated after the Scuderia ran Mercedes close in 2017, Red Bull's appearance at the top of the timesheets has seemingly defied their own predictions that they could struggle to launch a title challenge.
"What we have seen from Red Bull is that they have a very strong package," Wolff said. "I think will be very much in the game for race wins and the championship itself.
"I think it will be all three of us against each other."
Mercedes have claimed a title double in each of the last four seasons by Wolff says he would welcome an intense battle.
"Honestly, l am excited by the prospect of a tough battle," he said.
Sky Sports F1 is the only place to watch every Formula 1 Grand Prix, qualifying and practice session live in 2018. Get Sky Sports F1.