A police investigation had found he was unable to avoid the collision and did not contribute in any way to the crash, Mr Ryan said.
The fact that the Subaru was on the wrong side of the road and that it hit Mr Sydney's car while travelling sideways clearly showed it was out of control.
Mr Perkinson and Mr Williams were thrown from the car and into the path of vehicles following Mr Sydney's car.
"Evidence has been given to me which indicates that it is most likely two of these drivers have impacted or run over either, or perhaps both, Mr Williams and Mr Perkinson immediately after the crash," Mr Ryan said.
"These drivers were travelling behind Mr Sydney. The crash occurred right in front of them and they had no ability to avoid striking the bodies as they lay on the road.
"There is no evidence as to whether injuries that may have been caused to Mr Perkinson or to Mr Williams by these vehicles has caused their death."
Mr Ryan was unable to establish whether Mr Perkinson or Mr Williams was driving the Subaru.
Mr Williams was the sober driver earlier in the day, and post mortem blood tests showed he had a nil alcohol level.
Mr Stewart said Mr Williams was driving when the vehicle left Whangamata about 11pm, but that was the last thing he remembered as he had sustained severe injuries, including head injuries.
Blood taken from Mr Perkinson, who owned the car, showed he was over the limit for his age.
But bruising on his right shoulder could have been caused by a seatbelt, "which would indicate he was the driver", Mr Ryan said.
"Again, this evidence is not conclusive or compelling, given that Mr Perkinson, as was Mr Williams, was thrown out of the vehicle on impact.
"He may, therefore, have suffered that bruising or the abrasions in the actions of being thrown out of the vehicles, or as a result of being struck by another vehicle when he was lying on the road."
Mr Ryan found that either Mr Williams or Mr Perkinson was driving, but he could not say which one.
He did not make any recommendations, saying the crash occurred because the Subaru's driver lost control "but it would be meaningless for me to make a recommendation that drivers should not lose control of their vehicles".
He did conclude that there was no evidence establishing alcohol, speed or "hooning" had contributed.
"The only thing we do know is that the driver of that Subaru vehicle lost control but we do not know why.
"It would be very nice to be able to answer all of the questions. However, in my experience, it does not happen very often."