Have you come across the Car Options Ontology (COO), by Hepp Research GmbH and Volkswagen UK?
The COO provides a vocabulary for
exposing available configuration
options for car models. It allows
indicating choices that can be made as
well as compatibility, dependency, and
inclusion information.
COO imports and extends the GoodRelations ontology, in particular, the gr:ProductOrServiceModel part, which describes features of a product.
EDIT:
COO and Vehicle Sales Ontology (VSO) are designed at the same period of time (by the same person!) for slightly different purposes:
The Car Options Ontology is designed
to be used in combination with
GoodRelations for the commercial
aspects of offers for sale or rental,
and the Vehicle Sales Ontology for car
features.
To understand the base GoodRelations ontology better, you may want to take a look at the following paper:
Hepp, Martin: GoodRelations: An Ontology for Describing Products and Services Offers on the Web, Proceedings of the 16th International Conference on Knowledge Engineering and Knowledge Management (EKAW2008), Acitrezza, Italy, September 29 - October 3, 2008, Springer LNCS, Vol 5268, pp. 332-347.