A vehicular vision system includes a plurality of cameras and an ECU. The cameras are in communication with one another via a vehicle network and image data captured by the cameras is provided to the ECU. Responsive to a type of driving maneuver of the vehicle, (i) the ECU generates a first control signal that enables automatic control of exposure, gain and white balance of one camera of the plurality of cameras and (ii) the ECU generates respective second control signals that disable automatic control of exposure, gain and white balance of at least one other camera of the plurality of cameras. Responsive to processing of captured image data, composite video images derived from image data captured by the plurality of cameras are synthesized, and composite images are displayed that provides bird's eye view video images derived from video image data captured by the cameras.