Man cut free after crashing luxury Ferrari in St Peters, Sydney

Sydneysiders watched on in shock as a young man lost control of a Ferrari before being trapped in the wreck.

Emergency services were called to the Princes Highway in St Peters just after 11am on Monday after a man crashed a luxury Ferrari into a power pole.

The driver and his passenger were lucky to come away without serious injuries after the 2016 458 Italia Coupe lost control and smashed into the side of the road in front of several onlookers.

Channel 7 reported the driver had to be cut from the vehicle following the terrifying incident.

The car, estimated to be worth an eye-watering $475,000, was completely written off.

Witnesses saw the man lose control of the $475,000 car and crash into a power pole.

Vision collected from the scene showed the vehicle without one of its front wheels and a completely smashed windscreen.

Witnesses in the inner-west suburb told reporters they saw the car “take off” from a set of traffic lights before one of the front tyres blew out, forcing the high-powered vehicle to spin out of control.

The driver and his passenger were lucky to come away without serious injuries after the 2016 458 Italia Coupe lost control.

The driver had to be cut from the vehicle.

“I actually thought someone drove into the building down the bottom,” eyewitness Beau Smith told Seven.

“I’ve come out to the window seen the aftermath and thought, ‘Oh wow.’.

“It was just sideways and basically just hit the pole in the driver’s side door.”

Originally published as Man cut free after crashing luxury Ferrari in St Peters, Sydney