The capability of smarter networked devices to dynamically select appropriate radio connectivity options is especially important in the emerging millimeter-wave (mmWave) systems to mitigate abrupt link blockage in complex environments. To enrich the levels of diversity, mobile mmWave relays can be employed for improved connection reliability. These are considered by 3GPP for on-demand densification on top of the static mmWave infrastructure. However, performance dynamics of mobile mmWave relaying is not nearly well explored, especially in realistic conditions, such as urban vehicular scenarios. In this paper, we develop a mathematical framework for the performance evaluation of mmWave vehicular relaying in a typical street deployment. We analyze and compare alternative connectivity strategies by quantifying the performance gains made available to smart devices in the presence of mmWave relays. We identify situations where the use of mmWave vehicular relaying is particularly beneficial. Our methodology and results can support further standardization and deployment of mmWave relaying in more intelligent 5G+ all-mmWave cellular networks.