A very brief history...

The First Generation consisting of 1966 to 1970, were not your average muscle cars. Lots of power under the hood and dual exhaust put them in the lead. With a high compression engine and high octane gas (94), there was no hill steep enough to slow them down. Their front wheel drive gave them the traction needed to move effortlessly through all adverse weather conditions.
Toronado received the Motor Trend of the Year Award in 1966.
1966 and 1967 had V8 425 cubic inch engines, 1968 to 1976 had V8 455.
In 1968 and 69, Olds engineered an even more powerful beast, one equipped with a W-34 package: 25 more horsepower and dual exhaust. These are now quite rare, the rarest being '68 with only 111 built.
In 1970, the GT (Gran Turismo) was born, new name, same package.

The Second Generation (1971-1978) came out with a different allure all together. None of the muscle car look any more. The body grown in shape and size, teamed up with a new smoother suspension, made for a very comfortable ride.
It was also at this time that a second set of brake lights were mounted under the back window, feature that became very popular years later with other car manufacturers. Also, 1974 saw the introduction of air cushions tucked in the steering wheel and the dash, an innovation that spread well amongst car makers under the name of air bags.
All second generation cars were fitted with a low compression engine running on regular gas.
1977 and 1978 had V8 403 cubic inch engines. They were more economical to run due to the addition of the fuel efficient computer gadget "Misar". Their top model "XS" sported a wrap around back window.As well as this new style back window, the 1977 "XSR" had a T-roof with a 2 glass-panel skylight which stored out of the way, inside the roof.

The Third Generation (1979-1985) succumbed to the widespread "save the environment" propaganda. Everything from smaller and lighter body to smaller engine and transmission, was geared to save energy and eliminate pollution. On some 80 and 81 models, an XSC package was added including a console, bucket seats and a F-41 heavy duty suspension. In 84 and 85, the Caliente appeared with extra stainless steel trims on the front, the sides and the edge of the vinyl roof.
Since Oldsmobile never built convertible Toronado, an independent company, Hess & Eisenhardt, modified some of the third generation models into very attractive convertibles.
1979 and 1980 had V8 350 cubic inch engines, 1981 to 1985 had V8 307.

The Fourth and Last Generation (1986-1992) grew even smaller. Not only the body shrank considerably, but there is no more V8 engine. All are V6 transverse engines. However, these cars are all-electronic, self-diagnostic personal luxury vehicles.