Wednesday, July 19 2006 15:31 Hrs (IST) - World Time -

London: Renault's Head of Trackside Engine Operations Denis Chevrier insists there is no need to panic after failing to win their home grand prix at Magny-Cours.

Renault had been hoping to celebrate 100 years since they won the first ever French Grand Prix, but were thwarted by Michael Schumacher and Ferrari.

"We go to every race looking to win, so of course it's disappointing when you cannot," he said.

"We felt we were very strongly placed after qualifying and that we would be able to make our consistency count in race conditions," he said.

"But we are not over-dramatising things either: you have to finish second if you cannot win, and there is never a colossal difference between the two in terms of points. Strategically, it was an important second place," he said.

Chevrier dismissed claims that the balance of power has now shifted towards Ferrari. "It is a close fight between the two teams, as it has been all year and will continue to be. There is no reason to panic. neither in terms of the championship situation, nor the technical status quo between the teams," he said.

"Ferrari happen to have won two races in a row. but we dominated four in a row before that. There is no reason to think that the pendulum will not swing back in our favour in the coming weeks," he said.