It happened just after 2 a.m. at the intersection of Jackson and Brill streets.
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Arriving officers and medics found a 24-year-old female victim sitting in the driver's seat of a Dodge. She had been shot in the left side.
A 22-year-old male victim was located outside the vehicle. He was suffering from a gunshot wound to the left arm.
Police say the victims were with each other at the time of the shooting.
Both victims were taken to Jefferson Torresdale Hospital in stable condition.
Police found 16 bullet holes in the driver's side of the vehicle.
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"Right now we don't have a motive, but it appears clearly someone was firing at this vehicle," Philadelphia Police Chief Inspector Scott Small said.
A parked, unattended vehicle was also struck by the gunfire.
Police say they found a gun on the floor of the Dodge, but it's not clear at this time if that weapon had been fired.
Authorities are looking at numerous surveillance cameras in the neighborhood to aid them in their investigation.
RELATED: Check the 6abc Neighborhood Safety Tracker