Officers were called to Sneyd Lane and Chepstow Road, in Bloxwich, at around 7pm on Wednesday night.
A 20-year-old man was dropped off at hospital shortly after with serious injuries, where he remains in a stable condition.
A spokesman for West Midlands Police said: "We know there were lots of people on Sneyd Lane at the time, many had to stop to avoid the disorder which was taking place in the street, and we are urging these people to get in touch as soon as they can as they may hold vital information about what happened.
"We also believe stones were thrown at a white Audi and that a person was knocked over by this car."
Anyone with information is urged to call West Midlands Police on 101, quoting crime reference number 20WS/61446R/21.
Alternatively, call Crimestoppers anonymously on 0800 555111.