Ferrari chairman John Elkann says the team cannot expect to be competitive in Formula 1 before 2022.
Elkaan has also expressed his "total trust" in team principal Mattia Binotto after Ferrari's difficult start to the new season.
"Today we are laying the foundations for being competitive and returning to winning when the rules change in 2022. I am convinced of it," Elkann said.
"Binotto has the characteristics and skills to start a new winning cycle."
Elkann, speaking to Italy's Gazzetta Dello Sport in a rare interview, pointed out that Binotto was part of Ferrari when the team dominated F1 in the early 2000s with Michael Schumacher, team boss Jean Todt and technical director Ross Brawn.