9News has acquired video capturing the exact moment the arsonist attacked at around 4am today, then fled the scene.

The vehicle was parked in front of a panel beating shop in Nerang when it erupted in flames.

“It just exploded like a bomb, shattering all the glass,” eyewitness Matt Spears shared with 9News.

“[It] blew the window 10 metres that way, luckily there was no other cars around.”

The witness told 9News a man staying nearby attempted to confront the arsonist.

Footage captured the bystander yelling, “Are you gonna run you little dog?”

“A young fella was staying up in the next shop,” Spears said.

“He yelled out, ‘What are you doing, mate? What are you doing?’ and [the alleged arsonist] said ‘what’s it look like?'”

“Then boom, he threw the thing in there and it all went up.”

Police say the firebomber fled on foot and was last seen at Glennon Park, about 400 metres away from the crime scene.