The V16 was released right after the stock market crash at the New York Auto Show on January 4th, 1930. It became the first production road car to use the V16 which both Marmon and Peerless were also trying to launch. The first V16 shown was a Madame X Landaulet that was designed by Harley Earl a year earlier for two 314-B V8 chassis. The Landaulet was a limousine with division glass, a leather roof and a folding rear roof portion. Following these two special cars, other 4-door Madame Xs were built by Fleetwood in Pennsylvania and these were among the most expensive bodies available.
Despite difficult times, and a price tag higher than any previous Cadillac, the V16 was ordered in huge numbers throughout 1930. GM paraded six cars for European tour and the cars received acclaim by both the press and public. Production reached 2000 examples by June, but by the end of the year, the economic depression nearly hauled sales.