We study the performance bounds of vehicle-to-vehicle (V2V) relative
positioning for vehicles with multiple antenna arrays. The Cram\'{e}r-Rao bound
for the estimation of the relative position and the orientation of the Tx
vehicle is derived, when angle of arrival (AOA) measurements with or without
time-difference of arrival (TDOA) measurements are used. In addition,
geometrically intuitive expressions for the corresponding Fisher information
are provided. The derived bounds are numerically evaluated for different
carrier frequencies, bandwidths and array configurations under different V2V
scenarios, i.e. overtaking and platooning. The significance of the AOA and TDOA
measurements for position estimation is investigated. The achievable
positioning accuracy is then compared with the present requirements of the 3rd
Generation Partnership Project (3GPP) 5G New Radio (NR) vehicle-to-everything
(V2X) standardization