[2] The Codasur Championship's team owners and the governing bodies of national motorsport in the region began collectively to discuss its replacement with a current European or worldwide formula.

They wanted a formula that would provide young South American drivers with experience that would be relevant when, or if, they had the opportunity to further their career internationally.

[citation needed] The project also includes the acquisition of naming rights category, which from this year has been renamed Formula 3 Sudamericana Petrobras.

Local economic issues have tended to limit the potential for the maintenance and development of motor racing venues, which means that only the most popular circuits can afford to support the championship.

In recognition of this shortcoming, the series' organisers and race promoters are working harder to make it an attractive and suitable proposition for drivers from the smaller South American nations.

In spite of its economic limitations, and its relative geographical remoteness from the major centres of motorsport, F3 Sudamericana has nonetheless produced a number of recognised and notable drivers who have since established themselves in Europe and the United States.

In addition to Castroneves and da Matta, the series' alumni include other Champ Car drivers past and present, such as Christian Fittipaldi (the nephew of Emerson) and Bruno Junqueira.