Firefighters from Tadcaster were called out to help police officers shortly after 3pm.
They looked for the car for two miles without finding the vehicle before a helicopter and drone were used.
A North Yorkshire Police spokesperson said that nothing was found.
A North Yorkshire Fire and Rescue Service spokesperson said: "A crew from Tadcaster has been called to assist Police search a stretch of the River Wharfe after reports of an upturned car floating downstream.
"A full search of a 2 mile stretch of river was carried out but no vehicle located. Incident left with Police to search further using helicopter and a drone."