It happened on the A96 between Huntly and Keith in Moray just before midnight, Police Scotland said.
One of the five people hurt is said to have life-threatening injuries.
Richard Lochhead, a Scottish Nationalist Party MSP, tweeted: “So sorry to hear about such an awful tragedy locally.
“My thoughts are with everyone affected and thanks to emergency services. Community will be shocked by this sad news.”
A section of the road has been closed and diversions put in place.
An investigation has been launched and police have appealed for witnesses to come forward with any information.
Sergeant Peter Henderson said: “Motorists are thanked for their patience at this time and we would urge anyone who was in the area last night leading up to the incident at around 11.50pm to please get in touch as our enquiries at the scene continue. Please quote ref. no. 5002 of July 26.
“Our thoughts are with all those affected by this tragic incident at this very sad time.”