Two people who were in the vehicle were safe, a police spokesperson said.
Initially police said two people were missing.
The incident happened near scout camp at North Taieri. Photo / Google
Melanie Helm, who runs a Scout Camp nearby, said heavy rain had made the Silver Stream river high and swift.
"It's very sad to hear that but I can't believe people even tried to cross that river. Last night when I was out there it was very swift - you couldn't tell it was a ford."