Ferrari have failed in 2016 - Marchionne

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Ferrari president Sergio Marchionne has slammed the team's performance in 2016 after they "failed the targets" set for them.

Speaking before qualifying for the Italian Grand Prix, Ferrari's home race, Marchionne was highly critical of how they have failed to bridge the gap to Mercedes in the constructors' championship.

With seven races to come after this weekend in Monza, Ferrari sit 203 points behind the Silver Arrows, and they were once again out-qualified in Italy as Sebastian Vettel and Kimi Raikkonen qualified third and fourth respectively - Lewis Hamilton and Nico Rosberg comfortably taking the top two spots.

Since taking charge in 2014 Marchionne has made drastic changes to the team, and although disappointed by the current season he believes they are well set to challenge in the future.

"We failed the targets - I don't think there's a doubt in my mind," said Marchionne.

"There's no use putting sweeteners on the stuff, the car isn't there. I don't think we developed it. We started well in Australia, but we failed in developing the car during the season, which is due to a variety of reasons.

"Post-mortems on this have been done ad nauseam now, I think we're done. We have made changes to the leadership team and I feel comfortable this team of people are quite capable to turning the fate of the Scuderia around.

"Unfortunately we don't have a lot of season left. But already here, in terms of the changes we've made with the car, I feel a lot more comfortable than I did in the past.

"Let them finish the season, I think we'll do the best we can do for the best of '16, the fight starts in 2017 in the first race."