A toy vehicle is provided, including: a body; a spring, power generating unit connected to the body; a plurality of driving wheels connected to the spring, power generating unit through a transmission; a pair of legs mechanically connected to the spring, power generating unit through the transmission; a crank mechanism connected to the legs; a speed control gear mechanism capable of being connected to or disconnected from the transmission by automatic switching motion of a planetary gear meshing with a first gear of the transmission; and a movable actuating member, one end of which contacts the ground when the driving wheels contact the ground, thus moving the other end of the actuating member which disengages the planetary gear from the speed control gear mechanism. When the toy vehicle is placed in the horizontal position on the ground and the spring, power generating unit is wound via forced rotation of the driving wheels, the actuating member is moved to disengage the planetary gear from the speed control gear mechanism and the vehicle is propelled to roll at a high speed. If the toy is then lifted so as to isolate the driving wheels from the ground, the planetary gear moves and meshes with the speed control gear mechanism to shift the mechanism to the low speed mode. Then the driving wheels and the walking legs move at a low speed. If the toy vehicle is then placed in the vertical position on its walking legs, the toy vehicle walks slowly.