Two teenage boy racers were clocked illegally racing at speeds up to 122kmh on a busy 50kmh street in Dunedin, about 9pm on Friday.
The combination of poor weather and road conditions, inexperienced drivers and the number of people still driving during early evening was "a recipe for disaster", Acting Senior Sergeant Tania Baron said.
The cars were clocked at 110kmh and 122kmh on Crawford St.
There was still much traffic on the northbound one-way street at that time of night, including families going places, she said.
Both 19-year-old male drivers had their cars impounded and lost their licences for 28 days for illegal street racing under the Boy Racer Act.
The vehicles were also given non-operation orders, which means they cannot be driven again until they have passed a warrant of fitness to certify they are still roadworthy after being driven at excessive speeds.
Police stopped one vehicle and got the registration number of the second, which failed to stop.
It was later stopped in Warrington, where the driver admitted the offending, Snr Sgt Baron said.
One driver will appear in the Dunedin District Court on Friday and the second driver some time in June.