A woman is on the run after smashing an expensive luxury car into a CBD bollard this morning.

(Image: Nine)

The owner of the V12 Aston Martin Vanquish, a 27-year-old man, was in the passenger seat at the time.

He could only watch as his car, worth at least $230,000, careered into the bollard at a tram stop on Collins St in Melbrourne’s CBD about 12.30am.

Police say the woman fled the scene.

The owner was uninjured and is assisting police.

The Aston Martin has major front-end damage and was towed from the scene.