A man who stole a $250,000 high-performance Audi at gunpoint during a test-drive overnight remains on the run.

Sydney police chased the white Audi R8 car in a series of high-speed pursuits through the city, including through the Sydney Harbour tunnel.

The thief was chased from Mosman to the inner city, then back through the Harbour Tunnel and into the Lane Cove Tunnel, the Sydney Morning Herald reports.

The stolen vehicle rammed into several cars, including a police car, before police lost track of it near Beecroft.

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"Police were forced to terminate the pursuits several times due to the high-risk behaviour of the driver. Several cars have been damaged in minor collisions with the stolen vehicle and a police car rammed," police said.

Dramatic footage shows the police catching up to the car in Woolloomooloo and striking the driver's window before the thief speeds off.

The owner of the car had arranged to meet the thief, who posed as a prospective buyer, but was pistol-whipped on the head and forced out of the car.

Northern Beaches Superintendent David Darcy said police were "reasonably confident" they knew the identity of the thief. He urged him to hand himself in, saying he was "not going to get away with it".

The man who stole the car is described as Mediterranean or Middle Eastern in appearance with a thin build, possibly aged in his early 20s, with hair that is shaved at the sides and long on the top.

He was wearing a long, black leather jacket, black shirt and pants and white sneakers.