Vehicle inertial parameters such as mass and moments of inertia are required for most vehicle dynamic control systems. Due to the wide range variation of these parameters during vehicle operation, accurate estimation of their values in real-time plays an important role in improving the efficiency of vehicle control systems. In this article, the vehicle sprung mass and moments of inertia are estimated in real-time based on a Kalman-Bucy filter algorithm designed for a spatial vibration model of a two-axle truck. This proposed method requires measuring only the vertical, roll, and pitch velocity of the sprung mass and, therefore can reduce the sensor cost significantly. The simulation results for a random roughness road profile according to ISO 8608 class C with step variations in sprung mass and moments of inertia showed that the designed estimator rejected the process and measurement noises and tracked the real vehicle parameters effectively with acceptable errors