Due to the fact that WorldView-2 (WV2) has a small time lag while acquiring images from panchromatic (PAN) and two multispectral (MS1 and MS2) sensors, a moving vehicle is located at different positions in three image bands. Consequently, such displacement can be utilized to identify moving vehicles, and vehicle information, such as speed and direction can be estimated. In this paper, we focus on moving vehicle detection according to the displacement information and present a novel processing chain. The vehicle locations are extracted by an improved morphological detector based on the vehicle's shape properties. To make better use of the time lag between MS1 and MS2, a band selection process is performed by both visual inspection and quantitative analysis. Moreover, three spectral-neighbor band pairs, which have a major contribution to vehicle identification, are selected. In addition, we improve the spatial and spectral analysis method by incorporating local ERGAS index analysis (ERGAS-SNS) to identify moving vehicles. The experimental results on WV2 images showed that the correctness, completeness and quality rates of the proposed method were about 94%, 91% and 86%, respectively. Thus, the proposed method has good performance for moving vehicle detection and information extraction.