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Ferrari admits it 'screwed up' at Monza

MONZA, Italy -- Ferrari's lack of pace at the Italian Grand Prix came from underestimating its home circuit, according to company chairman Sergio Marchionne.

Though Ferrari was able to recover some of the ground lost in a disappointing qualifying session, which limited its drivers to the third row, Sebastian Vettel finished best of the rest behind a dominant Mercedes one-two. The team's performance at the Belgian Grand Prix, where Vettel ran Lewis Hamilton close all race, had raised expectations of a challenge from the Prancing Horse.

Though Vettel's performance was a good example of damage limitations after a challenging Saturday qualifying in heavy rain, Marchionne said the team will need to investigate why it was so far off the pace.