Multiple police units are in attendance at the scene near to the junction with Leed Street having been alerted to the incident at just after 18:00.
The casualty – understood to be a man in his 80s – has been rushed to hospital by ambulance. His condition is currently unknown, but is thought to be critical. Witnesses say paramedics have performed CPR on the elderly man.
The area has been cordoned off and motorists are being diverted locally.
The car, a black Hyundai Getz driven by a local woman, has sustained a heavily smashed windscreen as a result of the impact with the man.
UPDATE @ 19:35 – A hard road closure is being put in place by Island Roads, indicating the road is likely to remain shut for some time. Traffic is being diverted via Perowne Way.
Police are awaiting an update on the man’s condition from doctors at St Mary’s Hospital.
UPDATE @ 20:10 – The Collision Investigation Unit from the mainland has arrived in Sandown to conduct a thorough investigation into the circumstances of the crash.
A woman has been arrested by Police in connection with the incident and is being taken to Newport Police Station for questioning.
The road is to remain closed for several hours.
UPDATE WEDNESDAY @ 01:20 – The Broadway has now reopened in both directions some 7 hours after it was closed.
UPDATE WEDNESDAY @ 09:58 – Police have confirmed that a 36-year-old woman from Ryde has been arrested in connection with the incident and has been bailed until 19th February.
The 81-year-old casualty remains in hospital this morning.
UPDATE WEDNESDAY @ 16:48 – It has been confirmed that the 81-year-old man has been airlifted to the Intensive Care Unit at Southampton General Hospital.
It is thought he was airlifted during the early hours of this morning.