The Cadillac Eldorado was chosen as the official pace car for the Indianapolis 500 in 1973. Cadillac produced 566 of these special pace car convertibles. Thirty-three were used at the track during the race week, with the remainder distributed to U.S. Cadillac dealers one per dealership. Total sales soared to 51,451, over a sixth of all Cadillac sales.
1974 Eldorados featured a redesigned rear bumper, to meet the new 5 mile impact federal design regulation. Styling changes included new horizontal taillamps, and a fine mesh grille. Inside, there was a new, redesigned instrument panel, marketed in sales literature as “space age” and shared with all 1974 Cadillacs.