Richard Lloyd founded GTi Engineering in 1977 as his personal racing team, the name reflecting the Volkswagen Golf GTI that had just entered production and which Lloyd raced in the British Saloon Car Championship. Primary backing came from Volkswagen Great Britain. Lloyd competed successfully, earning a second-place championship finish in 1978 along with several race wins during the three-year Volkswagen programme.
In 1980 the team switched to Audi, entering the new Audi 80 in the BSCC and recruiting British drivers Stirling Moss and Martin Brundle for the season. At the end of that year Porsche approached GTi Engineering about becoming the primary European entrant for the 924 Carrera GTR in endurance racing. Canon, the Japanese camera firm, joined as primary sponsor, and the team operated under the Canon Racing banner while retaining the GTi identity.
GTi Engineering made their international debut at the 1981 1000 km Monza, where Richard Lloyd and Tony Dron finished eighth overall and second in class. Class victory followed quickly when Lloyd and Andy Rouse won their class at the 1000 km Brands Hatch.
For 1982 the 924 Carrera GTRs were adapted to comply with IMSA GTO class regulations, which made them ineligible for European class wins but still competitive in mixed company. A best result of fifth overall was achieved at the 1000 km Nurburgring.
When Porsche ended the 924 programme after 1982, GTi Engineering moved up to the Group C 956, entering the top class of the World Championship. At Silverstone, their second race with the 956, Jan Lammers and Thierry Boutsen secured a podium finish, with further podiums following at the Nurburgring and Mugello. Lammers finished seventh in the Drivers Championship that year.
In 1984 Canon arranged for a second 956 to carry an on-board video camera at select rounds, including Le Mans, driven by Richard Lloyd and Pink Floyd drummer Nick Mason. The team's primary 956, in the hands of Lammers and John Fitzpatrick, remained a front-runner. Jonathan Palmer substituted for Fitzpatrick and, alongside Lammers, took the team's first World Championship victory at Brands Hatch by two laps over Joest Racing. Shortly afterwards the team debuted the custom-built 956 GTi, which immediately took second at Imola. Lammers and Fitzpatrick both ended the year fifth in the Drivers Championship.
In 1985 the team officially changed its title to Richard Lloyd Racing, though the GTi Engineering name was retained within the company. At Le Mans that year Jonathan Palmer, James Weaver, and Lloyd himself finished second overall, only three laps behind the winning Joest Porsche but ahead of the factory Rothmans entry. An accident during practice for the 1000 km Spa injured Palmer and severely damaged the car, requiring a lengthy rebuild.
The centrepiece of GTi Engineering's technical legacy was a series of privately developed Porsche racing cars built to specifications unique to the team.
The 956 GTi originated when Richard Lloyd commissioned designer Nigel Stroud to develop a replacement monocoque using aluminium composite honeycomb in place of standard aluminium sheet metal, increasing structural rigidity over the factory unit. The original 956 chassis 106 was replaced by the Stroud-designed 106B. Custom pullrod front suspension replaced the entire Porsche setup. Aerodynamic work by designer Peter Stevens added a narrow wing mounted on vertical struts between the headlights and fenders, while a twin-element carbon fibre rear wing replaced the standard aluminium unit.
Following damage at the 1985 Spa, a new monocoque designated 106BII was built, incorporating 962 elements including a rearward cockpit position. This chassis served until the end of 1986. The 956 GTi was subsequently restored in 1990 and returned to historic competition in its original Canon livery.
For 1987 Stroud designed a 962C-based replacement. The resulting 962C GTi retained the 106B designation but was a new car featuring a completely redesigned rear section with the wing hanging off struts rather than being integrated with the long tail bodywork. Front bodywork was progressively revised through 1988 with an extended splitter and brake cooling ducts repositioned towards the nose centre. From 1989 TWR-Jaguar-inspired rear wheel covers were fitted to improve airflow.
Further 962C GTi chassis were sold externally. Dyson Racing purchased chassis 202, further modified it for the Camel GT Championship under the designation DR1, and won a single event in San Antonio. ADA Engineering received chassis 203 for the 1992 24 Hours of Le Mans. Other chassis competed in Japan under various entries.
Canon ended their sponsorship after 1985, with Liqui Moly replacing them for 1986. Despite reduced resources, the team won their second World Championship event at Brands Hatch that year by four laps, with factory Porsche drivers Mauro Baldi and Bob Wollek driving. A 1987 victory at the Norisring sprint event followed. Porsche Great Britain replaced Liqui Moly for 1988 as results became more difficult to sustain in a changing competitive landscape.
In 1989 a restructured World Championship consisting entirely of sprint events allowed Richard Lloyd Racing to run two cars again, with drivers including Derek Bell and Tiff Needell. For 1990, with Italiya as sponsor, the team ran a single car and also entered a standard 962C at Le Mans for Nick Mason. That car finished eleventh while the team's 962C GTi retired following a pit fire. At the end of 1990, Richard Lloyd Racing closed due to insufficient funding to continue into 1991.
The GTi Engineering automotive tuning division, which continued to develop Volkswagen and Audi road cars from their shared workshop at Silverstone Circuit throughout the racing years, was eventually sold off and remained in existence independently after the racing team's closure. The team's pioneering use of composite honeycomb construction, pullrod suspension, and aerodynamic innovations on the GTi Porsches influenced engineering approaches that were later adopted more broadly across the World Sportscar Championship.