Despite claiming victory in all but one race in 2016, Toto Wolff says Mercedes need a "flawless" display to win at the Hungarian GP.
Team-mates Nico Rosberg and Lewis Hamilton seem to be fighting a two-way battle for the title this season but the last two Budapest events have been forgettable for the Silver Arrows, with a contact-heavy 2015 edition resulting in a P6 and P8 finish.
Mercedes last secured a one-two finish in the Russian GP in May, and though their superiority was rarely troubled in both Austria and Great Britain - only a last-lap collision and time penalty costing them maximum points - Wolff is wary of Red Bull at a Hungaroring circuit which is less dependent on power.
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"This circuit has not been kind to us over the past two years and it plays to the strengths of our rivals," the Mercedes boss said.
"The Red Bull, for example, is a car that functions well where high drag isn't penalised as much as at other types of circuit. So, in wet conditions and at low-speed circuits such as the Hungaroring, they are a major threat.
"We will need to be flawless to come out on top at this track."
Max Verstappen heads to Budapest after back-to-back second places behind Hamilton, with Red Bull quickly closing in on a beleaguered Ferrari, and the Dutchman is the only man to have stopped Mercedes in 2016 with that famous win in Barcelona.
On that day both Hamilton and Rosberg crashed out, with the Brit admitting the title "seemed impossible" at that point, but he has now recovered to trail his Mercedes colleague by just one point. Chasing his fifth Hungarian victory, Hamilton is a driver in form.
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"Ever since the low of Barcelona I've been able to cultivate this really strong mental attitude and I'm really feeling that fire inside me right now," Hamilton added.
"Of course, I have good days and bad days like everyone else. But whatever the case, I'm able to turn negatives into positives when it counts.
"I'm feeling fresh, feeling powerful and feeling confident heading to Hungary. It's a track that for some reason has always suited my style and I have incredible support there, so I can't wait to get to out on track.
"The past couple of years I haven't had the smoothest weekends in Budapest, of course. But I know I've got the pace, so I'm gunning to turn that around this time."