Watch: Dramatic footage shows car losing control while fleeing police in Palmerston North

Security cameras have captured the dramatic moment a car fleeing police lost control as it hurtled down a Palmerston North street.

CCTV footage supplied to the Herald showed a maroon Toyota Rav4 speeding down Tremaine Ave before losing control, and performing a full 360 degree spin on the wet tarmac.

Miraculously the car avoided contact with a parked SUV before coming to a gentle stop in the middle of a busy intersection, relatively unscathed.

The two occupants then fled from the vehicle, before a police car entered the frame.

A police spokeswoman said at about 12.40pm a police unit spotted the car on Tremaine Ave without a registration plate and signalled it stop.

The car didn't stop, did a U-turn before losing control.

Two people were taken into custody.