The Internet of Vehicles (IoV) has become an essential component of smart transportation systems, enabling seamless interaction among vehicles and infrastructure. In recent years, it has played a progressively significant role in enhancing mobility, safety, and transportation efficiency. However, this connectivity introduces severe security vulnerabilities, particularly Denial-of-Service (DoS) and spoofing attacks targeting the Controller Area Network (CAN) bus, which could severely inhibit communication between the critical components of a vehicle, leading to system malfunctions, loss of control, or even endangering passengers' safety. To address this problem, this paper presents CANGuard, a novel spatio-temporal deep learning architecture that combines Convolutional Neural Networks (CNN), Gated Recurrent Units (GRU), and an attention mechanism to effectively identify such attacks. The model is trained and evaluated on the CICIoV2024 dataset, achieving competitive performance across accuracy, precision, recall, and F1-score and outperforming existing state-of-the-art methods. A comprehensive ablation study confirms the individual and combined contributions of the CNN, GRU, and attention components. Additionally, a SHAP analysis is conducted to interpret the decision-making process of the model and determine which features have the most significant impact on intrusion detection. The proposed approach demonstrates strong potential for practical and scalable security enhancements in modern IoV environments, thereby ensuring safer and more secure CAN bus communications.