Police are investigating the circumstances surrounding a fatal crash that claimed the lives of two people in Broadmeadows this morning.

Officers first received reports of a vehicle driving at excessive speed in the area prior to the collision.

No pursuit was initiated, and no attempts were made to intercept.

A short time later, the vehicle lost control and crashed into a pole and caught fire on Camp Road just after 5.30am.

Police managed to conduct CPR on the driver at the scene, before they were taken to hospital and died a short time later.

The driver is yet to be formally identified.

A yet-to-be formally identified passenger also died at the scene.

Investigators located two firearms inside the stolen vehicle.

Major Collision Investigation Unit detectives will investigate the circumstances surrounding the crash and are keen to speak to any witnesses.