Following the adoption of the 500cc formula for F3 in 1949, Cooper evolved the Mark III to use a 500 cc (31 cu in) JA Prestwich Industries (JAP) single.

It made its debut in at Goodwood on Easter Monday, run by Eric Brandon and Alan Brown (for Ecurie Richmond) and Mike Hawthorn (driving for Bob Chase).

It marked the first mid-engined entrant in Formula Two,[1] and only the second marque in top-rank European racing, following Auto Union.

Mark IVs competed successfully in F2 throughout 1952 and 1953,[3] driven by Hawthorn, Peter Collins, and of course John Cooper himself, among others.

[1] Arthur Owen modified a Mark IV with a streamlined glassfibre body and 250cc Norton engine late in 1957.

Its only win[citation needed] was achieved by John Barber at the 500 Car Club Formula 2 Race.