In 1964, Pontiac launched the GTO and sent the automotive world into a muscle car craze. Chevrolet also wanted a piece of this mid-sized pie, and the following year, the Chevelle Malibu SS 396 Z16 arrived.

It’s a rare beast, as the Bowtie brand only built 201 of them, according to SS396.com, a website dedicated to sourcing detailing and restoration parts. While it may not look special, it was loaded with unique parts and nothing like the regular Chevelle.

SS396.com also states that Chevy didn’t even bother advertising this car, but that didn’t matter, as its performance and rarity kept the gossip mill running. Today, the Chevelle Malibu SS396 Z16 is one of the most sought-after Chevy muscle cars out there, and most of us will never see one in the wild.

Birth Of The Chevelle Malibu SS396 Z16

According to SS396.com, Chevrolet released the regular Chevelle in 1963, as a 1964-year model, to keep up with Ford and its popular Fairlane mid-size car. The Chevelle was built on GM’s all-new A Platform, positioning it between the full-size Impala and the compact Chevy II.

Available as a hardtop coupe, four-door sedan, four-door station wagon, and two-door convertible, there was a Chevelle for everyone. In fact, even the El Camino ute was based on the Chevelle.

The 1964 Chevelle was offered as a base model 300, the luxurious Malibu, and the muscular Malibu SS. All were available with a choice of six-cylinder or V8 engine. For 1965, the Chevelle received some minor updates, such as a new grille and tail lights, along with some exterior and interior touches.

This was also the year the Malibu SS396 Z16 option was introduced. Jam-packed with unique parts, it had more tricks up its sleeve than the regular SS version.

Looking Under The Chevelle Malibu SS396 Z16’s Hood

The Malibu Z16 model was powered by Chevrolet’s new 396ci Mark IV V8 engine, known as the RPO L37. SS396.com reports that no other car has been fitted with this exact engine, and it was the first time a 396 was found under the hood of any GM car that wasn’t a full-size vehicle.

Street Muscle Mag, a muscle car magazine, states that this engine had a forged crank and pistons, a four-bolt main, hydraulic cam, ported closed-chamber cylinder heads, an aluminum intake, a Holley 3310 four-barrel carburetor, and a dual-snorkel air cleaner.

Chevy obviously couldn’t give the Chevelle more power than its flagship sports car, and those changes meant it was rated at 375 horsepower (hp), whereas the ‘Vette had 425 horses.

As always, power figures from this era should be taken with a grain of salt, but there’s no denying the Chevelle Malibu Z16 was a powerhouse.

Transmission-wise, the Z16 was only available with a Muncie M20 wide-ratio four-speed floor-shifter with a 2.56:1 low gear and an 11-inch clutch, and power was transferred to the wheels via a 12-bolt rear with a 3.31:1 diff.

The Z16 package didn’t just have a fierce powertrain, Chevrolet also had the foresight to add other heavy-duty parts to handle the Chevelle’s new-found power.

Other Z16 Upgrades

Street Muscle Mag also says there’s more to the Z16 package than just the big-block 396 engine and Muncie transmission — it had a whole host of upgrades.

Its frame was from the Chevelle Malibu convertible. Its stronger boxed frame rails and two extra body mounts made it better suited to handle the power.

The suspension was beefed up with heavy-duty components, such as stiffer springs than the regular SS, a 1.06-inch front anti-sway bar, and a stabilizer bar between the rear lower control arms. Even the spindles and A-arms were unique to this model.

As great as it is to have oodles of power, it’s nice to be able to slow down, too. Behind the 14×6-inch steel wheels, Chevrolet installed the 11-inch hydraulic brake drums from the Impala to bring things to a halt.

Unlike many other limited edition muscle cars from this era, such as the 1964 Ford Fairlane Thunderbolt, the Malibu Z16 wasn’t some stripped-out drag racer with limited road capabilities; it was more of a sleeper.

Owners could enjoy luxuries for the time, like a four-speaker AM-FM Multiplex sound system, an instrument panel pad, a dash-mounted clock, a toggle stick-adjustable side mirror, and even rear seat belts.

Exterior-wise, there wasn’t much that separated it from other Chevelles. “Understated” is perhaps the best word to describe it.

Only three colors were available: Tuxedo Black, Regal Red, and Crocus Yellow. On the front, the aluminum grille was blacked out. From the side, you can see “396 Turbo-Jet” and “Malibu SS” badges on the front fenders and wheel covers with “SS” emblems.

Moving to the rear, the Z16 had Chevelle 300 taillights surrounded by a unique black and chrome trim panel — unless the car was black, then the panel was painted silver.

Rarer Than Hen’s Teeth

Sources report wildly varying production numbers for the 1965 Chevelle, but the specialists over at Chevelle Stuff claim Chevrolet built 378,618 of them.

Of those, roughly 82,000 were Malibu SS models, and Hot Rod, one of the leading authorities on U.S. car culture, reports that only 200 Chevelle Malibu SS 396 Z16 production models rolled off Chevy’s Kansas City production line. In addition, there were one or two prototypes and a convertible made for Bunkie Knudsen, Chevy’s General Manager at the time.

Of those 201 production cars, Hot Rod says around 65 Z16 coupes still exist, whereas Street Muscle Mag claims 72 cars are accounted for.

Shrouded in mystery, Chevrolet didn’t officially call it the Z16 Package, nor did they advertise it. Instead, they had dealers inform “worthy” customers about its existence.

Chevelle Stuff has shared photos of an internal memo, where Chevrolet wrote, “Since the car is not advertised, etc., making it an ‘unlisted’ car, it could with good exposure become the most wanted car in the country, especially in view of the fact that only 200 (all coupes) are to be built… The car will get special distribution in that it will be directly offered to people who a) have demonstrated their enthusiasm for ‘special’ performance products by Chevrolet; b) have means and potential for maximum exposure of the car.”

Some of those who satisfied Chevrolet’s requirements were businessmen and sportsmen, Briggs Cunningham, and racing drivers A.J. Foyt and Phil Hill.

Dan Blocker, the actor who portrays Hoss Cartwright on the popular TV show Bonanza, also bought a Crocus Yellow Z16.

Sports Car Market, a specialist magazine focused on the car collector market, reports that the original Z16 prototype still exists and sold for $412,500 in 2006, and in 2009 at Mecum’s Indy sale it went for $355,100. Even with the drop in value, it’s still the world’s most expensive Z16.

Dan Blocker’s yellow Z16 is also around today, and as expected, it’s one of the most valuable cars, selling for $273,000 in 2005.

Other Z16s tend to sell for somewhere around the mid-$100k mark, give or take depending on condition, making it a rare beast that’s now found mostly in very exclusive collections.