A vehicle and a method for controlling the distance between traveling vehicles are provided to determine a traveling speed based on travel information of a first preceding vehicle and a second preceding vehicle. The vehicle includes a drive unit that provides rotational force for vehicle traveling and a distance sensor that detects an object located in a forward direction. A controller determines a first preceding vehicle and a second preceding vehicle located ahead of the first preceding vehicle, which travel on the same traffic road as a traveling road based on the result detected by the distance sensor. The operation drive unit is operated to adjust a vehicle speed to be at a traveling speed determined based on travel information of the first preceding vehicle and the second preceding vehicle.