General consensus is that it nonsense. Here's an extract taken from a message board on the subject: 'We tested it, and although it's licensed by Dupont it's not made by Dupont. Here is a copy of a letter I got from Dupont about Teflon in car wax from a few years ago.

Mr. Voellm,

Thank you for contacting us, although TeflonŽ is an exceptional product when used as intended, it provides no benefit in a wax or polish. According to G.R. Ansul of DuPont's Car Care
Products, Specialty Products Division, "The addition of a TeflonŽ flouropolymer resin does nothing to enhance the properties of a car wax. We have no data that
indicates the use of TeflonŽ fluoropolymer resins is beneficial in car waxes, and we have not seen data from other people that supports this position." Manufacturers
of gimmicky, over-hyped products sometimes claim that their products contain TeflonŽ, hoping that the consumer will believe there is something special about that
product. Ansul also notes that, "Unless TeflonŽ is applied at 700 degrees F, it is not a viable ingredient, and is 100 percent useless in protecting the paint's finish." This
is hot enough that your car's paint (let alone your car) wouldn't survive.
TeflonŽ is a registered trademark of Dupont.'