In several official treatises of the company’s history, Mercedes-Benz publications have listed the 170 V, produced from 1935 through 1949, as “by far [our] most important prewar passenger car model.” At first glance, such a bold statement might offend longtime enthusiasts of the marque: How could they say such a thing, in abject defiance to their legendary supercharged models of coach-built opulence, such as the SSK, 540 K, and 770 K? The fact, however, remains that the 170 V is the model upon which Mercedes-Benz built the foundation of its reputation that it still enjoys today.

Without a contender in the medium-sized and medium-priced luxury market, the marque may have perished amidst the global economic depression, which severely hindered demand for the most extravagant and powerful flagship models.

Introduced in 1935, the revolutionary 170 V employed an all-independent X-shaped lightweight tube-frame chassis and a 1.7-liter inline six-cylinder engine mated to a four-speed, semi-sy...