Abstract: A toy vehicle with an adjustable chassis is disclosed. The toy vehicle comprises a chassis having a left frame rail and a right frame rail. Each of the left and right frame rails is moveable between a first position and a second position. One or more wheels are attached to each of the left and right frame rails and a vehicle body is mounted onto the chassis. Moving the left and right frame rails to their first positions results in the left and right frame rails moving toward each other and toward the vehicle body. Moving the left and right frame rails to their second positions results in the left and right frame rails moving away from each other and away from the vehicle body.