The Renault-powered RB5 was presented to the public on Monday at the Jerez circuit, where Vettel intermediately got to work to get his first taste of the Adrian Newer-designed machine.
Vettel has joined Red Bull from sister squad Toro Rosso, with whom the young German scored a shocking maiden win at the Italian Grand Prix last year.
Vettel admits his goal for the season is return to the top step of the podium.
"The target is to win," Vettel told reporters during the launch of the new car in Jerez. "Obviously it's not correct sitting here and say I am going to win the world championship. I want to, but we need to see.
"We need to see how we are going, where we are in comparison to the others. I believe that the new rules could give a chance to teams like us to close the gap to the front but the favourites are Ferrari and McLaren, no doubt.
"If we are doing extremely well then we will be in a position to score points regularly and maybe fight for a little bit more. I am not the kind of guy to tell you we are going to be here. I prefer to stay on the floor and work hard. If we are getting a surprise then it's much better!"
The German, the youngest ever race winner in F1, said he is still acclimatising to the new team, but he feels prepared to start working on the RB5.
"It takes time, but obviously now I think we are in a good point to start with the new car," he said. "We could use the time last year to build up a relationship.
"I get to know the team much better and the guys that work with me. All these problems should be solved by now and we can focus on trying to make the car work."
Vettel also conceded it was still too early to judge the new car.
"I can give you a better impression once I have done a couple of laps. Looking from the outside I think it's a very nice looking car. But the most important thing is the speed on the circuit which we still need to prove."
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