Serra debuted alongside Keke Rosberg on 15 March 1981 in Long Beach, finishing seventh.

At the 1982 Canadian Grand Prix, Serra and countryman Raul Boesel made headlines for having a short scuffle after the qualifying session.

As the best of the non-qualified drivers, he was in contention for starting the 1982 Swiss Grand Prix after Ferrari withdrew Patrick Tambay's entry but FIA rejected Serra's request on the ground that Ferrari announced Tambay's retirement, who on Sunday morning did not feel well enough to race, too late.

Despite scoring three top-ten finishes in his first four outings with the team, he was released after the 1983 Monaco Grand Prix and replaced with Thierry Boutsen.

Following the end of his Formula One career, Serra made one CART Champ Car start in 1985 at the Portland International Raceway for Ensign Racing but suffered an engine failure.