The 8.2-liter V-8 that powered the 1976 Eldorado was introduced with the eighth-generation model back in 1970 and was exclusive to Eldorado at the time. The V-8, called the Cadillac 500, produced nearly 370 horsepower and 535 pound-feet of torque and this engine also holds the record for the largest-ever regular production V-8 put in a Cadillac.
The 1976 marketing campaign of the Eldorado was led by the tagline, "the last American convertible" and for the 1976 model year, Cadillac produced nearly 14,000 examples.