Chris is right. The police edited the video to show a previous scene. The kid got away and the police showed up at the owners house the next day. The car was in the garage so they had evidence. Apparently the kids father was a BMW car club member and his son had a lot of expreience from attending Advanced High Performance Driving schools.
Props to that kid! Just shows how pathetic the "World Scariest Police Chases" TV series is. They will do anything to make the police look good.