A worker at a hire company in Northcote phoned police about 9.40pm on Sunday after their silver Hyundai was stolen from Mitchell Street.
Victoria Police's air wing and dog squad tracked down the vehicle after the worker told officers where it was.
Police tailed the car from a distance and saw a man with non-life threatening stab wounds on his face get released from the vehicle at an intersection.
Police said on Monday they believed he was abducted and stabbed.
The 18-year-old victim from Fitzroy in Melbourne's north was taken to Royal Melbourne Hospital in a serious condition with upper body injuries.
Police kept following the car and deployed tyre deflation devices.
The Hyundai crashed into a parked car at Preston and four people ran from the vehicle.
Police said they were quickly arrested and officers found multiple weapons in the vehicle.
A 20-year-old Northcote man was charged with stealing the car. He was bailed to face Heidelberg Magistrates Court on February 12, 2024.
A 17-year-old boy from Ivanhoe in Melbourne's northeast faced a children's court on Monday charged with stealing the car, as well as committing an offence while on bail, failing to stop for police, driving unlicensed and failing to stop at the scene of a collision.
A 21-year-old Preston woman faced Heidelberg Magistrates Court on Monday charged with stealing the car, possessing a drug of dependence and committing an offence while on bail.
She was released on bail to reappear on October 12.
Police released a 16-year-old girl from Heidelberg Heights pending further inquiries.
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