Although Ross Brawn is impressed with his team's current form, the Mercedes boss concedes there's still a long way to go.
Mercedes have proven to be the team to beat on Saturday afternoons, securing seven of ten pole positions. However, it wasn't until May's Monaco GP that they finally turned one into a race victory.
Nico Rosberg claimed the first of his two race wins in Monte Carlo while Lewis Hamilton assured the team headed into the summer break on a high when he won last Sunday's Hungarian GP.
With three victories in the last five grands prix, Mercedes have climbed to second in the Constructors' Championship where they trail Red Bull Racing by 69 points.
"The first half of this season can be split into two halves again - the first five races and the second five races," Brawn told the team's YouTube channel.
"I'm very pleased particularly with the second five races because we have started to pick up some momentum, pick up some strength.
"We're starting to convert the pole positions into race results, winning three of the last five races, but we're far from perfect.
"We've still a lot to do, but the momentum we've got going into the second half of the season is really strong."
The team boss admits Mercedes, like their rivals, face an interesting challenge in the second half of the campaign as they balance this year's development work against time crucially spent working on next year's car.
"It's our big challenge to maintain our form, and a tough challenge with the demands of next season as well. Balancing those two things out is going to be tricky," said Brawn.
"But the team has great spirit at the moment, and I know the things which are coming through on the technical front.
"Our hit rate has been pretty good on new technical innovations this year. Things we've brought to the track have generally worked.
"We have some things coming through at the next few races which could give us that extra impetus, that extra momentum to take us through the second half of the year."