The footage, captured from a doorbell camera, shows up to four thieves stealing the blue car from Throne Road, in Rowley Regis, in the early hours.
Police have now launched an investigation but are yet to make any arrests in connection with the incident.
The footage, which has been shared online by LockedDown Vehicle Security, shows the thieves laughing as they get away with the vehicle, as well as beeping the horn as they flee the scene in the Audi.
A spokesman for West Midlands Police said: "Police are investigating after a blue Audi, was stolen from a driveway in Throne Road, Rowley Regis on Tuesday, October 15, at about 12.15am.
"It is believed that four offenders arrived in a white Volkswagen vehicle and smashed the driver’s window of the Audi before leaving in both cars.
"Officers are looking at CCTV in the area and enquiries continue."
Anyone with information is asked to call West Midlands Police on 101, quoting incident reference number 25 of October 15.
Alternatively, contact Crimestoppers anonymously on 0800 555111 or at crimestoppers-uk.org