Of course, but you might have to implement a bunch of complex algorithms yourself. If you're not familiar with vision processing, you might struggle.
What features on the car are you talking about? Do they have a unique shape and/or colour? Are they always visible? As for recovering the position of your car, your success will depend on how well you are able to calibrate your camera and/or how flat the ground is, how high your camera is, lighting conditions etc....
Simplest way to track a moving object in a stationary camera is by frame differencing. But the complexity of your solution depends on what else is moving in the scene. I would start with blob tracking, and if that doesn't suit, maybe optical flow.
It might help if you post up some frames from your video.
