Dissecting: Mein Lieblingsgetränk
Mein Lieblingsgetränk = my favorite drink
Can I drop the "getränk" and add "fahrzeug" to make....
Seems the answer is yes, as German loves to create words this way. Check also this (By the way, a lovely song and singer, I find lyrics a excellent way of building vocabulary and improving pronunciation, as I try to learn one song a week). Hope you enjoy as much as I do :)