At 6.30am Queenstown police along with two fire engines, two ambulance and an air ambulance from Dunedin were called to the Nevis Bluff crash, in which the driver of a Toyota Rav 4 lost control and the vehicle crashed down a bank.
All four occupants suffered injuries ranging from serious, to minor scrapes.
They were taken to various hospitals, depending on their injuries.
Sergeant Steve Watt, of Queenstown, said ice was not likely to be a factor in the crash and blood alcohol samples would be taken.
The serious crash unit would also investigate the cause of the crash.
The 21-year-old female driver, from Arrowtown, was flown to Dunstan hospital with a lower limb injury and discharged yesterday.
The front seat passenger, a 21-year-old Alexandra woman, was taken by ambulance to Dunstan Hospital and also later discharged.
The two 25-year-old male back-seat occupants, from Gore, were taken by ambulance to the Lakes District Hospital with suspected head and neck injuries.
One has since been discharged and one man was flown to Dunedin hospital by an Otago Rescue Air ambulance helicopter with a serious neck injury.
Last night he was in a stable condition in a general ward.
Blood alcohol samples would be sent to Wellington and results would take up to two weeks, Sgt Watt said.