A covariance analysis technique is proposed to derive the optimal suspension parameters of an articulated freight vehicle. A performance criteria comprising vehicle ride response, suspension deflections and tire deflections related to dynamic wheel loads, is formulated for the 9 degrees-of-freedom (DOF) in-plane model of the vehicle. The range of suspension parameters to achieve four different design requirements is identified and a parametric study is performed to make initial parameter selection using the covariance analysis. The optimal suspension parameters are then identified from the results of the study. The study concludes that the proposed technique can yield the optimal solution in a convenient and highly efficient manner.