Two teenagers are assisting police after an allegedly stolen vehicle smashed into another car in Labrador, leaving a teen fighting for life in hospital.

According to police, the stolen Mazda CX3 was travelling south on Frank Street around 12.30am when it collided with a Mazda 3 at the intersection with Marine Parade.

The occupants of the stolen vehicle, a 17-year-old male and 14-year-old female, then allegedly did a runner but were tracked down by police in Southport a short time later.

They were taken to hospital in stable conditions, and are currently assisting officers with investigations.

The two occupants of the other car, aged 17 and 15, were treated at the scene by paramedics.

The 15-year-old suffered significant chest and pelvic injuries and was rushed to hospital in a critical condition.

While the 17-year-old was taken to Gold Coast University Hospital in a stable condition with lacerations to his head.

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Police allege the Mazda CX3 was stolen from Wharf Road in Surfers Paradise shortly before the crash occurred.

Investigations are ongoing.

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