2 appliances from Ryde Fire Station were mobilised to the scene at the crossroads junction with Melville Street at around 17:15.
The first crews on scene have now been joined by the rescue tender from Newport, 2 ambulances, an ambulance officer and a duty fire officer.
The occupants of the second vehicle involved, a Volvo estate, are uninjured.
The road has been closed in both directions whilst emergency services deal with the incident.
UPDATE @ 18:02 – A male and female have been extricated from the upturned vehicle and are now being assessed by paramedics. Their injuries are not thought to be serious or life-threatening.
Island Roads engineers have been called to the scene as street furniture has been damaged in the collision.
Southern Vectis buses are on diversion via George Street.
UPDATE @ 18:29 – Emergency services are now standing down from the incident, however Dover Street and Melville Street remain closed whilst recovery of the vehicles takes place.
The 2 casualties have been conveyed to St Mary’s Hospital.