Police were told three teenagers entered a home at Runaway Bay and stole a black Mercedes before 4pm today.

It is understood two women tried to stop the vehicle, which reversed into an electric gate and blocked the driveway.

Emergency services were told the 54-year-old woman was then hit by the car.

The teenagers were tracked by a police helicopter half an hour up the M1, where they were stopped by police and arrested.

The 54-year-old woman was taken to the Gold Coast University Hospital with critical injuries.

The other woman was checked by paramedics but was unhurt.

A crime scene has been set up.

The teenagers are being questioned by police. No charges have been laid.