A police spokesperson said officers spotted a vehicle on Keyes Rd about 10.10pm that had previously been reported stolen. Police signalled the driver to pull over but they did not stop.
The officers did not pursue the vehicle, the spokesperson said.
But it was spotted again about 40min later on Anzac Drive and police deployed road spikes to try and stop it.
The vehicle was then driven on the wrong side of the road before it came to a stop on Queen Elizabeth II Drive.
The two 15-year-old occupants were arrested.
Councillor Aaron Keown told Chris Lynch Media "police closed the east bound lane while Fire and Emergency crews extinguished the fire in vehicle.
"A number of onlookers had gathered to witness the spectacle.
"There was also a lot of debris from tyres that had been burnt out."
The teens were due to appear in the Christchurch Youth Court on Monday.
Car catches fire
Meanwhile, one person is in serious condition after a car went over a bank and caught fire in Christchurch on Saturday morning.
Police were called to Sutton Quay in Lyttelton just after 1am.
Fire and Emergency NZ sent two crews, and four St John ambulances also responded.
Two other people were taken to hospital in moderate conditions.
