The incident happened near Barclays Bank in Ripon market place at around 1.15am in the early hours of Sunday 1 April 2018.
A dark coloured BMW collided with a stationary taxi and a man in his 60s who was stood near to the taxi bay. The man sustained serious head and facial injuries and was taken to Harrogate District Hospital where he remains in a serious but stable condition.
The BMW driver failed to stop at the scene of the collision, and at the time, police issued an appeal for information via social media to help find the car.
Officers have since confirmed that they have now traced the vehicle and the driver believed to be involved in the incident. The vehicle has been seized for forensic examination and the driver is due to be interviewed.
Investigating officer, Traffic Constable David Minto has thanked the people of Ripon for their assistance. He said:
We thank the public, particularly the local community in Ripon, for their assistance and vigilance. We have been hugely impressed by their collective efforts. We do ask however that people refrain from posting further details on social media in relation to this incident. The investigation is still ongoing and could be adversely affected by any comments and speculation.
If you have any information that you feel is important to the investigation, we would still very much like to hear from you.