A toy vehicle includes a plurality of wheels and an electric motor operably coupled to rotate at least one of the wheels. At least the one wheel and preferably each rotated wheel includes a hub and a tire mounted on the hub. The tire has an interior sufficiently hollow to make the wheel buoyant in water and the wheel is sufficiently sealed to prevent water penetration of the interior of the tire with the wheel immersed in water. The tire has a central portion surrounding the hub and a plurality of hollow lobes spaced from one another about the central portion. Each lobe has a pair of opposing outer sides at least one outer side being at least partially inwardly cupped to improve thrust caused by rotation of the wheel in water.