Police believe an expensive sports car may have been stolen and stripped for parts before being dumped in the Williams River at Raymond Terrace.

A vessel approaching the local boat ramp near the Fitzgerald Bridge struck the submerged vehicle on Sunday morning.

Police divers confirmed no-one was in the car before it was pulled from the water.

The Camero z28 coupe was missing several parts, including the exhaust system.

Police are still trying to locate the owner of the car.

The submerged car is dragged from the water. Picture Newcastle Herald