[4] Starting in 2006, the series has been run exclusively with Swift 016.a chassis powered by Mazda-Cosworth MZR 2300 cm3 (2.3 L) DOHC inline-4 engines producing 300 bhp (224 kW).

This reduction in costs, plus the addition of the aforementioned $2 million prize, had an immediate effect on increasing the number of competitors in the series (car count), which had dwindled over the previous few seasons.

Formula Atlantic as a class evolved in the United Kingdom in 1971 from the US Formula B rules, with 1600 cm3 production-based twin-cam engines (initially dominated by Lotus-Ford Twin Cam-based dry-sump Cosworth Mk.XIII, then by Cosworth BDD when the class became Atlantic in the United States, however other engines like Alfa Romeo and BMW were also eligible).

The first professional races run under Formula Atlantic rules in North America were conducted in 1974 by the Canadian Automobile Sport Clubs (CASC) in Canada (now ASN Canada), drawing much attention and large fields due to its national CTV television coverage.

During these years, the series attracted guest drivers from Europe, including Formula One, particularly at the Trois-Rivières street race in Quebec, Canada.

Guest drivers included James Hunt, Jean-Pierre Jarier, Riccardo Patrese, Patrick Depailler, Jacques Laffite, Didier Pironi and Vittorio Brambilla.

South Africa also adopted Formula Atlantic rules, but later mandated that the cars were fitted with Mazda Wankel engines.

Among Atlantic drivers in races through 1982 were Keke Rosberg, Gilles Villeneuve, Michael Andretti, Bobby Rahal, Howdy Holmes, Tom Gloy, Dave McMikllan, Kevin Cogan, Jacques Villeneuve Sr, Chris Kneifel and Roberto Moreno.

In 1983, Jon Norman, Gudrun and Rick Shea and Tim Fortner, formed West Coast Atlantic Racing - WCAR - and ran a series of professional races for Atlantic cars on the U.S. west coast, with Al Brizzard as Chief Steward.

Vicki brought to the management of the Atlantic series the many years of experience she'd accumulated while working for Carl Haas in his Lola, Hewland and other racing equipment import business, and more directly, her involvement in Carl's race team management in the CanAm and other series.

When Champ Car succeeded CART in 2004, the new owners also bought Pro-Motion Agency, and Toyota Atlantic continued under their sanctioning.

The series raised to prominence a great number of drivers including Michael Andretti, Jacques Vlleneuve, Scott Goodyear, Joey Hand, Buddy Rice, Sam Hornish, Ryan Hunter-Reay, Brian Till, Dan Wheldon, Alex Tagliani, Calvin Fish, Danica Patrick, Simon Pagenaud, A. J. Allmendinger, Graham Rahal and Katherine Legge.

The latest in a long line of television celebrities to enter this series—starting with Dick Smothers at the very first race in 1968[8]—was Frankie Muniz of the Fox Network comedy Malcolm in the Middle, making his debut in 2007.

In 2005, she became the first woman in history to win a professional open wheel race in North America, at Long Beach, California.

Christal was also the owner of sponsor Roadblock Protective Systems and Team Manager for BMW of Sterling Motorsports.

[11] Then, in 2009, Mazda recommitted its support to the Atlantic Championship by extending an engine contract that covers the series through the year 2011.

[12] In early 2010, Atlantic Championship personnel publicized several features intended to attract new drivers and retain existing racers and teams.

One was to brand the series as the "Road to F1", announcing that "at least one current European F1 team manager" would be in attendance to monitor a test for interested racers.

Series president Ben Johnston stated: "The Atlantic Championship office will be working during the down time in order to deliver an unparalleled racing offering when economic conditions allow."

On December 29, 2011, Mike Rand, Bob Wright and Al Guibord Jr. of Formula Race Promotions, which operates the F1600 and F2000 Championship Series sanctioned by the Sports Car Club of America's Pro Racing Division, announced the Atlantic Championship would be revived for the 2012 season with a schedule that will be held during three of their F1600 and F2000 series weekends - Road Atlanta (May 10–12), New Jersey Motorsports Park (June 28-July 1) and Summit Point Raceway (August 24–26).