The driver did not stop to assist after the crash.
The vehicle was heading north in the left lane near Ocean Reef Road when it cut in front of the Camry, which was travelling in the middle lane.
The Toyota had to brake suddenly causing a Ford Falcon ute to crash into the back of the vehicle. The force of the impact sent the Camry through scrub and into a tree on the left-hand side of the freeway.
The older-model Volvo continued travelling north.
No-one was injured, but the ute and Camry were badly damaged. Police believe the Volvo may have entered the freeway via the Vincent Street on ramp.
Anyone who witnessed the crash or has information is urged to contact Crime Stoppers on 1800 333 000.