The victim was told to drive to the 300 block of Walker Avenue. Moments later, three other women came to the car.
Two of the women jumped into the back of the car, and another went to the driver's side, held a knife to his throat and instructed the victim to get out of the car.
The man exited the car and ran west, according to Memphis Police Department.
The four women also began to run but later returned to the scene to take the car.
The victim told police his ID, credit card, debit card, cellphone and $65 in cash were left in the car.
The four women are still at large. If you have any information that could help lead police to arrests, you are urged to call CrimeStoppers at 901-528-2274.