Shortly after 10.00pm, a white Kia Picanto car was driving from “Free Derry Corner” in the Little Diamond area towards Northland Road when it was stopped by a man standing in the road.
The driver was ordered out of the vehicle and two men made off from the scene.
Foyle Detective Inspector Cherith Craig from Strand Road CID said the driver, although not injured, was left badly shaken during the incident.
DI Craig added: “Both men were arrested in the Primrose Street area in relation to the incident. They remain in police custody.”