With the country’s economy and people’s consumption capacity increasing, railroad transportation tasks have become more and more frequent, and it is growing the demand for the transportation of high-value goods, fresh produce, etc. Compared with traditional Freight vehicles, express freight vehicles have great advantages in terms of carrying capacity, mobility, and transportation cost, but when it run at a speed of 160 km/h, it often occurs that failure of axle-box rubber springs, primary vertical dampers, secondary lateral dampers, anti-yaw dampers, and air springs. How to ensure the safety and stability of the train under suspension system failure conditions is a problem that needs to be solved during the design process. In this paper, through multi-body system dynamics software, a nonlinear dynamics model of lateral and vertical coupling of the vehicle system is established to analyze the influence of suspension system failure on the stability of 160 km/h express freight vehicles. The analysis results show lowering the operating speeds can meet the Ride Quality of the Vehicles in special conditions.