Fernando Alonso has poured cold water on observations that he is now the clear favourite to defend his world titles in 2007.

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Despite switching from Renault to McLaren, the 25-year-old Spaniard is clearly piloting the quickest machine so far this winter. But Alonso told 'Tele5' at Jerez on Thursday that his MP4-22 is not necessarily ready to win.

"My lap times look good and everyone seems to be behind us, but the car is far from being ready for Australia and we are running out of test days," the newspaper 'Diario As' quoted him as saying in the television interview.

'As' said it interpreted the comments as a logical playing down of expectations from the back to back world champion, and the campaign also seemed coordinated, with Woking's Pedro de la Rosa, Lewis Hamilton and Martin Whitmarsh all echoing that "we need to improve" the car before the circus touches down in Melbourne.

Alonso added: "At the moment, the thing I like best about this car is the colour."

McLaren will fit a bodywork and engine upgrade to the car at the final two tests of the pre-season.

Alonso admitted that the Mercedes-Benz motor "needs a little more power" and also suggested that the handling could be improved.

Asked about the team's rivals, he said: "Ferrari are going very well. Renault will start the year well but as usual they will be slow to improve. BMW could be the great surprise of the year, perhaps even fighting for wins.

"Honda, in my opinion, are not going as well as they say they are."