Interesting. I will try that and let you know how it works.
Edit: OK, I didn't get very far. It still doesn't solve the problem of one product fitting multiple models and years.
Using my previous example: Toyota Tacoma (2007-2011) AND Toyota 4Runner (2007-2011) AND Toyota Highlander (2008-2011).
So for the 2007 model year, I created one category for "Toyota", one for "2007" and TWO model categories (excluding Highlander). But I have to recreate the entire structure for 2008 and can't reuse the categories. By the end I have 5 categories named "Toyota" and up to 5 for each model. Unless you nest the categories like this, the product looks like it fits a 2007 Highlander when it doesn't.
2007
> Toyota
> Tacoma
> 4Runner
2008
> Toyota
> Tacoma
> 4Runner
> Highlander
2009
> Toyota
> Tacoma
> 4Runner
> Highlander
2010
> Toyota
> Tacoma
> 4Runner
> Highlander
2011
> Toyota
> Tacoma
> 4Runner
> Highlander
Throw in other makes, models and years and it quickly becomes convoluted and unworkable. Am I missing something?