Six teenagers inside an allegedly stolen vehicle have cheated death in a dangerous pursuit in Sydney.

The alleged driver - a 14-year-old boy - collided with a pole at high speed about 12.30am today before the group managed to escape the mangled wreck.

Two of the teens are facing charges after the chase from Erskineville in the inner west to Mascot in the inner south.

The high performance hatchback allegedly had a 14-year-old at the wheel and five other teens inside.

The Volkswagen Polo was totalled in the crash, with the front of the vehicle bearing the brunt.

One local said it was "one of the fastest cars I've seen".

The alleged driver walked away and was pulled from the bushes by responding police.

Detectives claim all six boys – five aged 14 and one 15 – all attempted to make an escape but were picked up on nearby streets.

The police chase began on Erskineville Road about 12.30am. The car was allegedly stolen from Mascot between Friday night and Saturday morning.

The fast pursuit of six kilometres took less than 10 minutes to reach Botany Road.

Police claim the teens inside the Polo were in balaclavas and gloves.

The boys were taken to Sydney Children's Hospital in Randwick.

Two 14-year-olds have been charged with being passengers in an allegedly stolen vehicle.

Moments after they were released on bail, they were spotted in another vehicle waving the bail papers out the window.

They are set to appear in court in August.

Their four friends remain in hospital, among them the alleged driver.

All of them are under police guard.

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