He managed to run to a nearby house after his passengers dragged him from the car, but was soon taken to hospital in a critical condition, after the fire broke out about 11.20pm yesterday.
The man was driving a white Hyundai Kona, which allegedly had stolen number plates, west along Mahoneys Road in Reservoir when it caught fire at the intersection of Hughes Parade, according to police.
Three passengers who were in the car pulled the driver from the flames, then all four of them ran off towards Hughes Parade and separated.
The driver, who suffered serious burns, made it to a property on Mahoneys Road where an ambulance was called.
He was taken to hospital in a critical condition.
Police are yet to establish the exact circumstances surrounding the incident and wish to speak to anyone who may have CCTV or dashcam footage of the Kona prior to it catching fire or footage of the four leaving the scene.
Anyone with information is urged to contact police.
Mahoneys Road is expected to be closed for hours while an arson chemist attends the scene.