After the first race of the Formula 1 season in Melbourne this weekend, the stage looks set for a truly thrilling series of battles over the coming months.

Sebastian Vettel, driving for Ferrari, set down a marker and won in Australia, the first- time Ferrari has had a driver claim victory since 2015.

Lewis Hamilton and Vettel have had fierce battles over the last few years, however, the two heavyweights now appear to have their biggest fight ahead.

Before the Race had even begun, Hamilton, driving for Mercedes, knew Ferrari posed a much greater threat than they had in recent years:

“It’s going to be close, already the Ferraris are very, very close with us.”

He wasn’t wrong…

Race commentator Giles Richards said:

"Finally, it looks as if Formula 1 has a fight on its hands and after all the hope and expectation that has weighed heavily on the sport to fulfil with its reboot this year.

Melbourne was a proper slugfest between two of the biggest hitters of their generation; one that might yet be enjoyed all season long. F1 had set itself some ambitious targets and on the season’s opening weekend, the race was a very palpable hit.”

Hamilton had pole position while Vettel started second in the field.

However, thanks to a combination of intelligent strategy and supreme driving ability, Vettel was able to finish 10 seconds ahead of the British driver.

Timing their pit stops perfectly, the Ferrari team were able to keep Hamilton and the Mercedes team at bay, something not missed by Toto Wolff, Mercedes team leader, who was seen punching a desk in frustration in front of the cameras.

Winning the first race of the season is a huge statement from Ferrari and Vettel, only time will tell if they can maintain their challenge for the title and take the crown Mercedes who finished first and second in 2016.

As far as Ferrari have moved forward with their car and driver, Red Bull seem to have regressed.

Finishing 5th but struggling to keep pace with the leaders, there was a clear drop in performance compared to last year.

Daniel Ricciardo spun out of qualifying and Max Verstappen, his racing partner for Red Bull, was clearly unhappy with his cars performance:

"All the time when we were changing something it was changing quite a lot, in terms of oversteer or understeer, and basically not having the pace."

"We are still down on power but also, in terms of grip level and things, we are not on the same level compared to Ferrari and Mercedes yet."

Elsewhere, Fernando Alonso was left frustrated as Mclaren’s car was clearly nowhere near the level required to challenge.

The Spanish driver has won the Championship twice and finished second three times, already it seems Alonso will have to endure a difficult season.

Team Leader Eric Boullier said the Spaniard had produced the "perfect lap" - and even then it was only good enough for 13th. "But in truth that's all our car is capable of delivering at the moment," accepted Boullier, "and Fernando produced it all. Bravo."

In 19 of the past 27 F1 seasons, the driver to have finished top in the first race has won the championship, however, based on the evidence of the weekend, we may see the championship go all the way to the final day of the season.

Next up is the Chinese Grand Prix in Shanghai, where a record was set last season, for the most amount of passes ever, bring it on!

Below is the how the Melbourne Grand Prix finished.