The collision involving a black Peugeot 206 happened on the B9013 Sheriffston to Orton road, near Altonside, at 21:10 on Monday.
Two men aged 30 and 19 were seriously injured and are being treated at Aberdeen Royal Infirmary.
A 23-year-old woman suffered fractures and another 19-year-old man sustained minor injuries.
The road is currently closed and police have appealed for witnesses.

The online retail giant reported a $92m profit compared to a $126m loss for the same period a year ago.
Sales also rose 20% to $23.2bn in the second quarter to the end of June, boosted by strong growth in the US.
Its shares, which fell 1.3% during the day, leapt 18.5% to $571.24 a share in after-hours trading on Wall Street.
The firm was also upbeat on its prospects for the current third quarter, forecasting sales would grow between 13% and 24% compared to last year, much higher than analysts had predicted.
Sales in North America rose 25.5% to $13.8bn in the second quarter, driven by purchases of electronic goods and general merchandise, helping to drive the strong performance.
Its cloud computing division, Amazon Web Services, also made a contribution, with sales up 81% compared to the same quarter last year.
It said its widely promoted "Prime Day" on 15th July - which offered special deals to customers who signed up to its fast delivery service - had been a success with more new members trying it globally than any other day in the firm's history.
Amazon founder and chief executive Jeff Bezos credited hard work for the results: "The teams at Amazon have been working hard for customers," he said.
Throughout its history, Amazon's revenue has climbed while its profit has hovered around or below zero.
On Thursday evening, the e-commerce company reported a profit.
As customers in North America bought electronics and others products, sales in its biggest market rose more than 25% compared to last year.
And if you thought Microsoft's cloud computing business did well, then take a look at Amazon web services which includes its cloud business - revenue soared more than 80 percent.
The only slight negative was that sales growth outside the US wasn't nearly as impressive.
Still after years of ploughing its cash into new technology , mostly aimed at making it easier and faster for customers to get what they want, the results are starting to pay off - at least in the eyes of Wall Street

The helicopter swooped on Durdham Down at about 14:40 BST on Sunday, with air crew reporting the kite was soaring 1,000 feet (300m) up in the air.
No action was taken against the man, who was told the flying limit was 240 feet (73m).
The pilot said the kite endangered small aircraft from Bristol Airport.

It is thought to be the first such case since the plane went missing between Kuala Lumpur and Beijing in March 2014.
The children's mother said she had accepted compensation from Malaysia Airlines and the government so the boys could move on with their lives. The amount has not been disclosed.
The search for the plane, which was carrying 239 people, continues.
The family of Jee Jing Hang, who was on the plane, brought a lawsuit against Malaysia Airlines on behalf of his two young sons last October for breach of contract, as it had failed to deliver passengers to Beijing.
The family also brought claims against the Malaysian government, the Department of Civil Aviation, the immigration department and the air force for negligence.
"The court was informed that all the parties in the suit had come to an amicable settlement," Gary Edward Chong, a lawyer for the family, told the AFP news agency on Tuesday.
The families of other victims have been following the case closely and experts believe this settlement will trigger other similar legal actions.
No wreckage from the flight has ever been found and an Australian-led team is still scouring the southern Indian Ocean seabed in hope of finding the aircraft.
Four months after MH370 vanished, another Malaysia Airlines plane - flight MH17 - was shot down by a suspected ground-to-air missile while in Ukrainian airspace, with the loss of 298 passengers and crew.
The airline was declared "technically bankrupt" by its chief executive on Monday as he announced plans to cut about 6,000 jobs.
Four people travelling in the same car have been injured in a serious crash in Moray.
[NEXT_CONCEPT]
Amazon shares have surged more than 18% in after-hours trading after it reported a surprise profit and better-than-expected sales figures.
[NEXT_CONCEPT]
A police helicopter landed on an area of Bristol parkland to order a high-flying kite enthusiast to bring down his craft.
[NEXT_CONCEPT]
Two Malaysian children who lost their father on flight MH370 have settled their negligence case out of court.