Police said the carjacking happened around 10 p.m. in the parking lot of a Ross department store at Gateway Boulevard and Pennsylvania Avenue in Fairfield.
One of the suspects began talking with the driver, and a second suspect then demanded the man's car keys at gunpoint, Pilcher said.
The two suspects fled in the victim's forest-green 1995 Pontiac Bonneville and a third suspect in a black or blue Chevrolet Camaro followed them, Pilcher said.
The Vallejo man was not injured, police said.
Detective Cleo Mayoral said this morning the vehicle is still missing. The four-foor Pontiac has no license plates but has a temporary operating permit, Mayoral said.