I think it is both offensive and disturbing.
It is disturbing that there are people who would think that designing and manufacturing this image is appropriate, and it is offensive that people think it is OK to drive around with it on a vehicle.
There will be the usual 'get a sense of humour' nay-sayers - possibly not on here, but I am perfectly content that I have an excellent sense of humour, but this is well outside its boundaries - and I would wonder about the attitudes to women of anyone who thought it was in any way amusing.