After 6 straight seasons of Ferrari winning the Constructors' Championship, and five straight Drivers' Championships, the F2005 was not nearly as successful a car as its predecessors, notching only a single victory, subsequently Ferrari scored their lowest result in the constructors since 1995. The main reason for Ferrari's lack of form was down to the Bridgestone tyres the team used, which were poor in comparison to the Michelin tyres that were used by the majority of teams that were competing against Ferrari (Renault, Mclaren, Toyota, Williams, BAR, Red Bull and Sauber all had Michelin) in respect to a new rule for the 2005 season dictating that races had to be completed without tyre changes.
At the car's launch, Ross Brawn stated that the F2005 was an evolution of previous cars and design ideas simply adapted to the new regulations for the season. Minor changes had been made over the previous car to improve airflow and conserve the tyres as much as possible. Originally intended to debut in Spain, the F2005 was pressed into service earlier in Bahrain, once it became clear that Renault and McLaren had superior cars and better pace.
Another reason for the car's uncompetitiveness was aero changes that were done to the cars for that year, which encouraged the teams to generate more downforce from the central part of the diffuser and Ferrari's engine and gearbox design prevented them from opening up the diffuser as much as they would have liked.
The car is also notable for appearing during the opening ceremony of the 2006 Winter Olympics, driven by Luca Badoer. During the ceremony, there was a pit stop demo by the Ferrari pit crew, and Badoer performed donuts as well. As a result, this made the car the only Formula One car to appear during an Olympic opening or closing ceremony.