Ferrari officially launched the 248 F1 for the 2006 season today at Mugello with Michael Schumacher at the wheel.

Designer Aldo Costa said: "We are very happy with the way it is performing."

"It is lighter and the suspension has been completely changed. The aerodynamics have also been reworked and we will continue to make small changes if need be before the first race of the season."

Costa's predecessor, Rory Byrne, will be staying on for a further two years as a consultant.

Technical director Ross Brawn said: "We've made the final step we wanted to make where Aldo is totally responsible."