PICS: Caterham CT03

Caterham became the tenth F1 team to launch its 2012 challenger when the new CT03 was revealed just ahead of the start of pre-season testing in Spain.

The new car, which features a series of changes under the skin and a revised livery, is an evolution of the CT01 that it replaces and will be driven by a new-look line-up in the shape of Giedo van der Garde and ex-Marussia man Charles Pic.

With much of the focus being on 2014, when new rules in F1 come into play, the team will aim to make steps forward during the year ahead although it is keeping expectations in check about what can be achieved.

"This is the first car we have produced from our factory in Leafield and the last we will build under the current regulations," team co-chairman Tony Fernandes said. "The team has produced a car that is an evolution of the 2012 car, building on that platform to give us a chance of continuing to make progress towards the teams ahead, while also dedicating enough resource to start work as early as possible on the 2014 car.

"For me this is going to be the story of the 2013 season - every team wants to be as competitive as possible this year, but with such fundamental rule changes next year resources and budgets dictate that there will have to be a cut-off point in the development of the current season cars so focus can be switched to 2014. We will bring updates to the car after several races and I am happy that the plan we have for 2013 will give us the chance to fight this year, but, importantly, will allow us to take full advantage of the new rules in 2014.

"I am realistic enough to know that we still have a long journey ahead of us, but the dream is steadily coming true. We have invested in the long-term, not taken any short-cuts and we have everything in place to keep moving forwards."

To view pictures of the new car, CLICK HERE. More images will be added as available.