Lewis Hamilton may be in search of a third Australian Grand Prix on Sunday, but Mercedes team principal Toto Wolff warned not to expect a "magic fix" amid a slow start to the season.

Mercedes have fallen well short of early leaders Ferrari, who hold a 40-point advantage over Red Bull in the constructors' championship after the opening two races in Bahrain and Saudi Arabia.

Hamilton managed to finish third in Bahrain in the season opener despite ongoing questions following a series of design changes by his team to comply with new regulations for the 2022 season.

However, Hamilton succumbed to his first performance-related Q1 elimination since 2009 in Jeddah as Mercedes failed to make the top five on the grid for the first time since the 2013 Italian Grand Prix.

Wolff was honest in his assessment ahead of the next race in Melbourne, with Mercedes aiming to rectify their issues with the W13 'porpoising' – bouncing at high speed – and not racing at the optimum height.

"We are in a learning race and the first two weekends have shown we still have plenty to learn," he said on Thursday.

"At the moment, our track performance is not meeting our own expectations, but everyone at Brackley and Brixworth is focused on understanding the problems and finding the right solutions.

"There won’t be a magic fix for the next race weekend. But we're pushing to steadily bring gains over the upcoming races, to hopefully move us closer to the front of the pack.

"Until then, we need to maximise each opportunity and make the most of the package we have."

Formula One is back on the streets of Albert Park Lewis and George preview the #AustralianGP with @PET_Motorsports pic.twitter.com/HCMrIS8lpS

— Mercedes-AMG PETRONAS F1 Team (@MercedesAMGF1) April 6, 2022

Both Hamilton and George Russell played their part in the W13 development, and Wolff appears unworried by the upcoming challenges with his driving pair to call upon.

"Lewis and George are making an important contribution to the overall effort," he continued. 

"Providing feedback, spending time in the simulator and working together to help push us forward.

"So, there are various challenges ahead of us but that's something we relish, and is when a team really shows its true spirit."