Dashcam captures erratic car speeding with no left wheel

An out-of-control car has been filmed speeding along a NSW highway with just three wheels during the Australia Day long weekend.

Gregg Faulkner and his wife Sue witnessed the mangled vehicle while driving along the Pacific Highway on the central coast on Sunday at about 6.45am.

"The tyre and wheel rim were missing completely so he was actually running on the brake rotor disc, and that was scraping along the road and throwing up sparks and flames," Mr Faulkner told A Current Affair.

The vehicle's front left tyre had been shredded during a police pursuit, which authorities had called off earlier due to safety concerns.

"The noise was horrific," he added.

Mr Faulkner said they first saw the car in the rear view mirror, skating all over the road at high speed.

The car then overtook the Faulkner's, crossing over double lines onto an oncoming lane before erratically returning to the left lane.

It crashed a short time later just outside Port Macquarie.

The 16-year-old unlicensed driver was found nearby and arrested.

The underage driver faces a host of traffic-related charges - at one point he was clocked travelling 157km/h in an 80km/h zone.