Renault chief executive Carlos Ghosn (right) has sent out a clear warning, either his team must start challenging for wins again, or else the company will have to re-think its future in F1.

Speaking out in Monaco this morning, Ghosn said what many F1 insiders have been thinking for some time, that it is ludicrous to expect manufacturers to continue pouring vast sums into their Formula One programmes when they are battling for points as opposed to titles.

"What is important for me is the trend," he said. "If I am in a situation where we are number four or number five and we have no hope to do better, be part of the show or win again, then I say why are we participating?

"We are not going to be here to say 'me too, I am also in Formula One'," he continued. "We don't want to do that. But ups and downs, we are used to it."

His words come at the track where only a year ago Fernando Alonso took victory, going on to win his, and Renault's, second successive title.

"I am very confident that the team is going to do a much better in the second half of the season than the first," Ghosn continued. "And again we want to continue to be part of the show at the best level.

"We are here to win, to perform. I cannot reasonably ask Flavio to win every year, I cannot expect that every single year the team is going to be number one. "But you have to be always part of the show. You have to be always part of the two or three teams that can make it for the year. That is very important."

Currently, Renault is fourth in the Constructors' Championship, trailing third-placed BMW by twelve points, though it is the German manufacturer's second full season in the sport as a fully-fledged entrant. Its best placed driver is Italian veteran Giancarlo Fisichella, who is sixth in the driver standings.

Looking for an excuse for this year's relatively poor performance, Ghosn said: "We put all our resources to decide the championship last year. We won, we prevailed. The small price to pay is maybe we did not dedicate as much attention to the next season."