Authorities say the crash happened early Friday morning, before the start of the morning rush hour in Alpharetta.
Alpharetta Department of Public Safety spokesman George Gordon tells CBS Atlanta that a red Ferrari was heading east on Webb Bridge Road shortly before 4 a.m. when it crashed into the woods and caught fire.
Gordon said the 19-year-old driver and his 21-year-old passenger were able to climb out of the vehicle but suffered second- and third-degree burns. They were taken to Grady Memorial Hospital and were described as being in very serious condition.
Alpharetta is about 25 miles north of Atlanta.