American Motors was determined to shed it's economy car image and renamed the marque AMC. The company had always been American Motors. They stuck with the Rambler brand for two model lines, the American and the Classic. However this was the last year for the Classic, so the name didn't mean much.
Creeping back into the lineup was the Rebel, which had been the a branch of the Classic line from 1957 to 1960. Now it was back as the top of the line two-door hardtop, replacing the 770-H model name. The next year, the Rambler Classic name would be retired and they be called Rebels henceforth.
The Classic didn't get a big sendoff. 1966 brought it closer in line with the growing musclecar segment by making a floor mounted Borg-Warner T-10 four speed transmission available with a tachometer. AMC's largest engine, a 270hp 327 CID V8 was available on both trim levels. Wikipedia states that Chevrolet was getting as much as 365 horsepower from their carbureted 327, but I don't know where they got those numbers. The one you'd find in a Chevelle.or Impala was only 275hp.