Steve Etherington for Mercedes-Benz Grand Prix Ltd.
He said: "They are strong in race trim and we particularly struggle with the rear end".
"It is, of course, hugely satisfying to be back on the top step of the podium", Sergio Marchionne said. "You dream of it as a kid and I know that he will be enjoying it".
Starting behind the Silver Arrows on the second row of the grid, Vettel, who claimed victory on the opening weekend of the season in Melbourne before battling to second place in Shanghai last time out, jumped Hamilton at the first corner and Ferrari made the bold decision to pit him after only 10 laps to fit fresh tyres and go for the undercut. Other short odds to win are Sebastian Vettel (+175), Valtteri Bottas (+600) and Kimi Raikkonen (+800). A demoralizing drought for such a fiercely proud team, certainly, but this year promises to be different.
It is a credit to this entertaining and unpredictable Formula One season that after three races we are still not completely sure who has the upper hand between Ferrari and Mercedes-GP.
With clean air ahead of him, Vettel built up what proved to be an unassailable lead and the win puts clear daylight between himself and Hamilton in the title fight - 68 points plays 61 after three rounds.
"It was a really great team effort today", said Vettel. "We still got good points and we still have this great fight as Sebastian did a great job".
Pole-sitter Valtteri Bottas finished third in his Mercedes, on a day when the Finn struggled.
"We'd like to give equal opportunity at the start of the race, I think we owe it to them".
"I tried my hardest to catch up, but it was a long old way to go".
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The two teams had been very evenly matched in race pace but Ferrari's aggressive pit strategy gave Vettel the advantage, and when Hamilton pitted under the safety auto he was too slow into the pit entry and took a five-second penalty.
Hamilton's five-second time penalty early in the race for driving too slow in the pit lane may have cost him the race.
Vettel completed the 57 laps of the 5.4-kilometer (3.4-mile) track in 1 hour, 33 minutes, 53 seconds, for his third win in Bahrain after success with Red Bull in 2012 and 2013.
Hamilton had moved to second after the safety vehicle by overtaking Bottas, but his long second stop had left him back in third, more than 20 seconds behind Vettel.
Bottas was visibly upset in post-race interviews to have been forced to stand aside although he conceded he had not been as fast as Hamilton and also reiterated that as a team player, he would always obey the orders.
Vettel pitted again in the 34th and Hamilton in the 42nd - serving his five-second penalty as well and returning in third place some 18 seconds behind Vettel and nine adrift of Bottas.
Hamilton and Vettel, sitting alongside Bottas in front of reporters, jokingly asked the polesitter whether the Finnish language had a word for "excited" or "exciting".
Hamilton came in with 15 laps left - and took his time penalty.
After splitting their drivers' tyre strategies, the team then twice instructed Bottas - suffering from a tyre-pressure issue - to let Hamilton through.
McLaren's nightmare continued, with Belgian Stoffel Vandoorne failing to start and Fernando Alonso retiring on the final laps but classified 14th.
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