1962 saw Porsche enter a factory 718 along with the new eight-cylinder 804 in Formula 1, though its only victory that year was a victory at the French Grand Prix with an 804 driven by Dan Gurney. Porsche pulled out of F1 after the 1962 season and began work on the 718's successor, the 904.
While the 718 didn't have as much success towards the end of its life, it was a seminal car for Porsche, setting the stage for decades of racing dominance to come. It showed that four-cylinder Porsches could keep up with much more powerful Ferraris and the like. In many ways, it was the pinnicale of Porsche's flat-four racecars.