Matt Whiting, who works for Momentum Traffic Management, was working at a Spencer Street road works site just before 1am, when he noticed a stranger climbing into the white BT50 Mazda ute, police said.

The victim, 28, ran to the front of the vehicle and was struck as the car left, causing him to fall to the ground.

He was taken to hospital with minor injuries. The ute was later spotted by a 3AW listener in Upwey, and located by police in Darling Avenue around 10am.

Momentum Traffic Management owner Nick Cashin, told the radio station earlier on Monday that his workmate was OK and on his way home from hospital.

"We're still obviously waiting for more test results, but no, he's fine and he's in good spirits."

Mr Cashin said the ute was in "fairly good nick".

"It looks like he (the thief) has done a bit of bush bashing and he's dented in the front of the bumper, but apart from that everything else seems in check."

Anyone with information should phone Crimestoppers on 1800 333 000.