The crash happened on Parsons Avenue near Teak Avenue on Thursday afternoon.
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Police say Julian Vitoria hit an elderly couple with his car, then drove away.
The couple was taken to a local hospital with moderate to serious injuries. Their current condition has not been released.
Investigators used surveillance video from a nearby school, which helped them identify Vitoria's vehicle.
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Officers tracked him down and detained him a short time later. He has since been arrested and booked into the Merced County jail on attempted homicide charges.
Police are still working to determine why Vitoria targeted the couple.