Mercedes will begin 2014 boosted by their second-place finish in the Constructors' World Championship last season, according to executive director Toto Wolff.
Drivers Lewis Hamilton and Nico Rosberg unveiled the German team's new W05 car on Tuesday as pre-season testing got underway in Jerez in southern Spain.
Mercedes were second behind the dominant four-time driver and constructor world champions Red Bull in 2013 after winning three races.
And significant technical rule changes for the new season promise a much more closely-fought title race for the coming season.
"It is always exciting to pull the wraps off a new car for the first time, but even more so at the start of this momentous 2014 season," said Wolff.
"Lewis and Nico begin the season hungry for success and I am confident that our team will benefit thanks to the continuity of their work during the winter period.
"We have positive momentum after our second-place finish last season. Our clear target is to continue building our team and we aim to deliver on every single race weekend in 2014."