Police say speed might have been an issue after a car carrying four people collided with a tree in Cobden on Saturday morning.

Three teenagers were taken to hospital with serious injuries, one flown to the Alfred in a stable condition but with serious back and leg pain.

Another male was taken to the University Hospital Geelong by road ambulance in a stable condition with fractures to his arm while a teenage female was taken to South West Healthcare in Warrnambool also in a stable condition.

The Holden Sedan was believed to be travelling at a high speed causing the driver to lose control along Shenfields Lane Cobden, although police say alcohol was not involved.

The car was left extensively damaged as result of the accident.