Five teenagers have been arrested following an alleged aggravated burglary in Waurn Ponds this morning (30 May).
Investigators have been told two males armed with knives allegedly broke into a home on Rene Street about 12.10am and demanded keys to a white Mercedes.
An occupant of the home, a 29-year-old man, was also allegedly assaulted and his vehicle stolen.
The victim sustained minor injuries.
The car was later spotted by police about 12.30am on Barrabool Road and allegedly failed to stop when officers attempted to intercept.
It was located a short time later after being involved in a minor crash at the intersection of High Street and Barrabool Road.
A number of youths allegedly fled the vehicle on foot.
An 18-year-old Bannockburn woman, 16-year-old North Geelong girl and 15-year-old Grovedale girl were arrested nearby.
The North Geelong girl has been charged with theft of motor vehicle and bailed to appear at a children's court at a later date.
A 17-year-old male from Hamlyn Heights and 17-year-old male from Deer Park have since been arrested.
They are assisting police with their enquiries.
Police are not looking for anyone else in relation to the incident.
Anyone with information is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential crime report at www.crimestoppersvic.com.au