Their purpose was to deflect air across the back window to keep it clear of dust. Yup, air deflectors.
Wind deflectors designed by my neighbor who was a Chrysler engineer at the Highland Park, Michigan offices. He first put them on his 1964 Plymouth station wagon. Yes....to keep the rear window clear. They would also keep the exhaust from coming in the rear window if it was down.
Nothing to add concerning the deflectors, but that looks to be a rather solid Valiant 200 wagon. Roger