Violent Queensland car crash captured on dash cam

An elderly couple was lucky to survive a terrifying crash captured on dash cam footage.

Video of the incident was released by Queensland Police on Monday. It shows a vehicle carrying the couple, aged 69 and 72, driving along the Bruce Highway near Townsville.

A second vehicle speeds past a truck on the wrong side of the road before swerving to avoid a collision, only to crash at high speed into the elderly couple's vehicle.

Moment before the impact.

Both cars crash into the side of the road, one flipping a number of times. Dash cam footage from a truck following close behind reveals the full scale of the incident.

"Oh, no way ... big accident right in front of me," the driver says. "Oh, they're rolling. F***, there'll be people dead here."

Police say those responsible fled the scene without checking on the victims. They've since charged two 16-year-old boys and allege the vehicle they were travelling in was stolen.

The elderly couple were taken to hospital where they were fighting for their lives but have since been released.

The vehicle with the elderly couple inside, right, veers off the road.

The Queensland Police Service shared the footage on Facebook on Monday afternoon, asking anyone with further information to contact them.

Detective Inspector Leonie Steyger earlier told The Townsville Bulletin the crash was an "inexcusable event".