It’s wrong
So VW has a new Beetle design, and a cute ad campaign to go along with it.
One the ads I’ve seen shows the new Beetle from the side, and has the text “Profile Update” on the ad.
See, the new shape of the car means that it has a different profile. Hence, profile update. Which could also refer to something seen on a social network. Enough people would get the reference that they’d see the double meaning, even if some of the younger ones among them might only get the facebook bit.
Another shows the rear of the car, with the text “It’s back” accompanying it.
Oh no, this is all wrong. I can understand what they were going for. It’s back! Like, it’s been a while but now we have this totally sweet redesign and it’s really great. But it also shows off the back of the car. So, the car’s back? as in the back of the car? That can’t be what you meant, because then you would have used the possessive its. They’re not interchangeable. So instead of having a quirky double meaning, this one just makes it look like the ad agency was trying too hard.1
The funny bit is if they’d used almost any other word besides “it” to describe the car, then it would work both ways. Beetle’s back. That could be read either way, because the contraction “beetle is” doesn’t come up so frequently that it needs a special exception case.2