The 1976 Cadillac Eldorado was America's "last convertible," but not for long. Speculators rushed to buy, only to lose big once ragtops returned in the '80s -- including a new Eldorado.
The 1976 Eldorado is the most famous "last convertible," mainly because it wasn't. Cadillac's personal coupe had been redesigned in a new jumbo size for '71, when a convertible returned for the first time since Eldorado went front-wheel drive four years earlier. The convertibles attracted 7,000 - 9,500 yearly sales, but Cadillac wanted more for '76, knowing ahead of time that it would own Detroit's only remaining ragtop.
The 1976 Cadillac Eldorado was believed to be an "instant collectable."
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The 1976 Cadillac Eldorado featured white leather upholstery with red piping.
Come 1984, however, Cadillac introduced a new Eldo convertible that not only prompted a lawsuit (for deceptive advertising) but lost a bundle for those who overpaid for '76s. So much for clever marketing.
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