Two of the teens were then chased down and bitten by a police dog before they were arrested.
The report found that officers were justified in their pursuit, complied with policy, conducted appropriate risk assessments and correctly used a police dog.
One officer's breach - by continuing the pursuit after another officer had abandoned it - was found to be justified.
"Despite being a technical breach of policy, Officer A's actions in continuing the pursuit until the Pursuit Controller later directed it be abandoned were justified in the circumstances," the report said.
The incident unfolded when the teens were seen driving the stolen Mazda on May 26, two days after the robberies, on SH5 near the small lakeside town of Ngongotaha.
The report said the car failed to stop and an officer commenced a pursuit.
The stolen car was driving at nearly twice legal speed limits and on the wrong side of the road, it mounted a footpath, skirted traffic by driving on a grass berm and "fish-tailed" when it swerved to avoid road spikes.
The fact that there was fine weather, minimal traffic and no pedestrians were mitigating factors that supported the officers' actions to pursue the vehicle, the report found.