Absolute positioning of vehicles is based on Global Navigation Satellite Systems (GNSSs) combined with on-board sensors and high-resolution maps. In cooperative intelligent transportation systems, the positioning performance can be augmented by means of vehicular networks that enable vehicles to share location-related information. This paper presents an implicit cooperative positioning (ICP) algorithm that exploits the Vehicle-to-Vehicle (V2V) connectivity in an innovative manner, avoiding the use of explicit V2V measurements such as ranging. In the ICP approach, vehicles jointly localize non-cooperative physical features (such as people, traffic lights, or inactive cars) in the surrounding areas, and use them as common noisy reference points to refine their location estimates. Information on sensed features are fused through V2V links by a consensus procedure, nested within a message passing algorithm, to enhance the vehicle localization accuracy. As positioning does not rely on explicit ranging information between vehicles, the proposed ICP method is amenable to implementation with off-the-shelf vehicular communication hardware. The localization algorithm is validated in different traffic scenarios, including a crossroad area with heterogeneous conditions in terms of feature density and V2V connectivity, and a real urban area by using Simulation of Urban MObility (SUMO) for traffic data generation. Performance results show that the proposed ICP method can significantly improve the vehicle location accuracy compared to the stand-alone GNSS, especially in harsh environments, such as in urban canyons, where the GNSS signal is highly degraded or denied.