Toto Wolff is aware of the "long road ahead" in the 2021 title fight and says Mercedes are in a "good position" starting the second half of the season, after recent upgrades seemingly brought their W12 up to scratch with the Red Bull RB16B.
Following a spate of defeats to Red Bull, Mercedes introduced aerodynamic updates at Silverstone where, immediately, Lewis Hamilton topped qualifying.
However, it hasn't been possible to compare the respective race pace of the W12 against the RB16B due to Max Verstappen not making it unscathed through the opening lap at Silverstone or the Hungaroring.
Wolff, though, maintains the car is much better for the drivers than it was previously.
"We head to Spa-Francorchamps in a good position," Wolff said ahead of the Belgian Grand Prix.
"We lead both Championships and the W12 feels in a better place, after the upgrades introduced at Silverstone and an encouraging showing in Hungary. But we know there is a long road ahead and so much can still happen in this season of ups and downs.
"This has definitely been one of the most intense F1 seasons that I can remember, so far. The battle is far from over and after a few weeks away from the track, we're all really excited to get back to work."
Coming off the back of the mandatory summer shutdown, Wolff said that he and the team are eager to get back to business.
"The shutdown is such an important time for the entire team," he added.
"The chance to relax and recharge is invaluable, especially with such a busy second half of the season coming up, and the fight we have ahead of us. We're all racers at heart though, so while we enjoyed the well-deserved time off, we're also eager to get back to doing what we love: racing!"
Mercedes lead Red Bull by 12 points in the Constructors' Championship, whilst Hamilton holds an eight-point advantage over Verstappen in the Drivers' standings.