Quite a picture. I once sunk a 64 Buick Special in a lagoon at a golf course (the worse part was that it was my dad's work car) and it went down very quick (though later resurrected to run thousands of miles, thank God).
Now for a little more behind your posted picture:
Speaking of VW, The National Lampoon‘s infamous Teddy Kennedy ad was a visually spot-on replica of VW’s ad produced by Doyle Dane Bernbach, claiming the Beetle was so well sealed it could float. The Lampoon had to recall the magazine and issue an apology. The issued this retraction: “Even if Ted Kennedy had driven a Volkswagen he wouldn’t be president today.” As offensive as this appeared to many, it was seen as hilarious by others. Nonetheless, the parody appeared in a magazine that announced itself as a “lampoon.”- http://www.printmag.com/imprint/on-hoaxes-spoofs-and-parodies/
page=13#13" page=13#13 Found this update: In the early 70's, when VW still sold their beetle in the USA, they were fond of bragging about how air tight they were. One of their ads showed a beetle floating in the middle of a pond. National Lampoon ran the same picture with the caption: If Ted Kennedy had driven a Volkswagen, he'd be president today! When a law suit was threatened... by VW, National Lampoon ran the following retraction: Even if Ted Kennedy had driven a Volkswagen he wouldn't be president today. 13 posted on 4/8/2004, 4:20:37 PM by AgThorn
My family owned several Beetles over the years. You had to crack a window before you tried to close the door.