The new championship replaced the previously existing Super Formula Toyota, a one-make series with performance similar to F3.

This provides a more achievable option for drivers who lack the major sponsorship portfolio that is required by leading Euroseries teams, and would otherwise have to look elsewhere for their next step up the career ladder.

With Renault's backing, the World Series has developed into a championship from which drivers can reach Formula One, and three major Spanish teams are established in GP2.

[3] In recent years the Championship has become much less centred in Spain, with races across Europe, and has successfully attracted famous non-Spanish teams to take part.

The Copa was created in 2005, and provides an opportunity for drivers without competitive budgets, who would otherwise be left unable to progress from cheaper formulae.

[6] Since 2008 many circuits from further afield have been added to the schedule including visits to Magny Cours, Donington Park and Brands Hatch with major European motorsport venues including Spa, Monza, Silverstone and Hungaroring hosting rounds of the 2014 season as the series expands further into Europe.