Answer
I will let two senior churchmen speak on this:
Rowan Williams, the Archbishop of Canterbury and leader of the world's Anglicans, has described the story of the three wise men as nothing but a "legend" and says there is little evidence that they existed.
John Shelby Spong (
Born of a Woman: A Bishop Rethinks the Birth of Jesus) calls
Matthew's story of the magi, or wise men, Christian midrash and says that among people he knows in New Testament circles, the universal assumption is that the
magi (wise men) were not actual people.
Answer
Yes, the wise men who were recorded as visiting Jesus when he was small is true. The Bible, however, does not record how many of them there were, nor their mode of transport. These extras have grown up outside of the biblical account.