The accident happened just after 9 p.m., at 42nd Street and Sixth Avenue.
Police say the Jaguar rear ended another car while it was stopped at a red light at the intersection.
The vehicle that was rear ended spun around and was left facing eastbound.
It struck a taxi as it spun through the intersection.
The Jaguar flipped over onto the sidewalk and ended up striking 4 or 5 pedestrians.
Eight people were taken to Bellevue Hospital. They are all expected to survive.
Two others refused treatment at the scene.
Authorities say that the crash on a busy Saturday night near Times Square could have been much worse.
"There's a lot of lucky people right now," said FDNY Deputy Chief John Sullivan.
"You can see how packed Times Square is and when you have an accident of this kind, we're very lucky nobody's dead right now."
The crash shut down 42nd Street between Broadway and Fifth Avenue.
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