A 15-year-old boy from Diamond Creek was charged with theft of a motor vehicle on Sunday after the stolen vehicle was found dumped in Thomastown just before 5pm on Saturday.

A 17-year-old girl from Thomastown was arrested and charged on Friday with theft of a motor vehicle and released on bail. She was rearrested on Saturday and remanded after being charged with breach of bail.

On Friday, another teenager, a 14-year-old from Thomastown, was charged with car theft in relation to the dramatic chase that reached speeds of 150 km/h.

Followed by police and a Channel Seven helicopter, the black BMW almost hit a pedestrian, repeatedly swerved into oncoming traffic and narrowly avoided several collisions. After almost an hour, the chase was called off as the car approached Bendigo.

Police continue to search for a fourth youth involved in the pursuit, who is known to have offended previously.

Police Minister Lisa Neville said she was appalled by the driver's behaviour, as the incident again thrust the issues of youth crime and police pursuits into the spotlight.

Ms Neville described the driver's behaviour during Friday's pursuit, which started about 3pm near Lancefield, as "outrageous".

She said she wasn't going to "second guess" the decision to call off the pursuit, saying anyone who saw the footage would understand how erratic the driver was.

"The decision was made that the lives of others were at risk," she said.

Opposition police spokesman Edward O'Donohue said the pursuit again demonstrated that youth offenders were running wild.

"This extended pursuit is just another example of the youth crime problem in Victoria," he said. "Whether it's in the youth justice facilities, on the road or in the community, we've got a youth justice crisis."

With Aimee Amiga, Nino Bucci