Police have arrested a boy following an alleged theft of motor vehicle in Grovedale on Wednesday, 4 December.
It is believed two males and two females approached a man on the Surf Coast Highway, Grovedale just after 3am.
It is alleged one of the males, armed with a stanley knife, made threats before the two males fled in the victim's Hyundai Kona.
No one was physically injured during the incident.
The stolen Hyundai was recovered by police in parkland off Barrabool Road, Belmont.
Officers located one of the males, a 15-year-old boy, hiding in reeds nearby.
The boy allegedly ran from officers before there was a short foot pursuit and he was arrested about 3.15am.
It is expected he will be interviewed this morning.
The other male remains outstanding, and the investigation remains ongoing.
Anyone who witnessed the incident, has dashcam/CCTV footage or information is urged to contact Crime Stoppers on 1800 333 000 or anonymously at www.crimestoppersvic.com.au
