F1 sporting manager Ross Brawn believes Ferrari and Sebastian Vettel still have a shot at the world title, but the Scuderia urgently needs to recoup its momentum.
With six races remaining on the calendar, Lewis Hamilton's win in Singapore and subsequent 40-point lead over Vettel sets the Mercedes driver up nicely for fifth world title.
In the Constructors' standings, the gap is quite logically inferior with the Italian outfit trailing the Silver Arrows squad by 37 points.
By no means are the two championships done and dusted, insists Brawn, but Ferrari urgently needs to retrieve the mojo that left the team after Vettel's commanding win at Spa at the end of August.
"Mercedes leave Singapore in high spirits, Ferrari must be somewhat concerned by their form at Marina Bay, and in recent weeks," said the man who enjoyed a spell at the helm of both Ferrari and Mercedes earlier in his career.
"After the summer break, the Italian team was dominant, winning in Spa and getting both cars on the front row in Monza. However, since then, the spell has been broken."
Brawn noted that Ferrari's was bettered not by one, but by two rivals in Singapore, with Red Bull's Max Verstappen also outpacing the red cars.
"At its home race, the defeat could be put down to various incidents, but in Singapore, both Mercedes and Red Bull were better.
"Not by much, as on the streets of Marina Bay the gaps separating the top three were hardly a chasm, but by enough, as third in qualifying and in the race for Vettel seemed about the right result.
"The men in red admitted they made the most of what was available to them and they need to work out why as soon as possible," added the Brit.
"The gap in both championships is not yet insurmountable, but it is significant, especially against a strong rival in the habit of winning
"Ferrari can count on a car that has always been competitive and on drivers who know how to fight for a title, but now they need to turn things around, starting in Sochi."