Margaritis had his first experience of karting in 1996, and in 1997, he competed in the ICA Junior class, in which he secured the championship runner-up position. He spent the next two seasons competing in the International Junior class in Germany, finishing 4th overall in 1999. In the following year, Margaritis made his single seater formula debut in the Formula BMW ADAC championship. In 2001, he achieved three podium finishes and one pole position on the way to 6th in the championship standings.
After one season in German Formula Renault, in which he finished 7th overall, Margaritis made his Formula Three debut in the first season of the new Formula 3 Euro Series. He achieved one podium finish and two pole positions during the first year and retained a place in the series in 2004.
Touring cars
In 2005, Margaritis moved from formula racing to touring cars when an opportunity arose in one of Europe's most high-profile touring car championships. He was signed by Mücke Motorsport, which was making the same transition between disciplines.
In a 2004-specification AMG MercedesC Klasse, Margaritis did not achieve any points finishes; his best finish was 9th place at Spa-Francorchamps. He then moved to Persson Motorsport as the third driver in its 2006 line-up alongside Mathias Lauda and Jean Alesi. He was classified 11th in the standings, with a total of 11 points, and achieved a best finish of 5th position in the season's first race. Persson retained his services in 2007 alongside Paul di Resta and Gary Paffett. He finished 10th in the overall drivers standings with 16 points, achieving two 4th places.
On 27 February 2008, Margaritis announced his intention to leave the DTM and seek a position in another championship or category, citing as a primary factor the handicap of competing in year-old cars against machinery of factory specification.[1]
After one season without racing in major series, Margaritis participated in the newly created FIA GT1 World Championship.[2] He drove for Triple H Team Hegersport and Phoenix Racing. In spite of not participating in all events he finished 7th in the overall standings.