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The crash was about 4km south of Ranfurly, on Ranfurly-Patearoa Rd.
A police spokeswoman said the man was driving alone and was found outside the car.
He was in his 20s.
St John spokesman Gerard Campbell said a 111 call was received at 9.25am.
An ambulance took the man to Maniototo Hospital in Ranfurly and he was then airlifted to Dunedin Hospital by helicopter.
His condition last night was unknown.
Fire and Emergency New Zealand southern communications shift manager Tim Reynolds said one fire engine from Ranfurly and another from Naseby attended the scene to help with vehicle safety.