They say an SUV pulled behind the car at the intersection and a gunman in the SUV got out and approached the passenger in the car in front of him. Detectives say while pointing the gun the suspect demanded money.
As the passenger in the car struggled to take the gun away, the suspect fired killing him.
"Apparently there was one round fired which struck the victim in the chest. He was treated here at the scene and then transported to an area hospital where he later died," said Sgt. Howard Cooper, L.A. County Sheriff's Homicide Unit.
Detectives say that the suspect fled the scene in a dark colored SUV.
Concerned residents say that the bold and brazen daylight attack shows how desperate criminals are getting in these tough financial times.
"Anytime the economy tanks like this people start getting stupid," said resident, David Barnett.
"It is very scary. I think everybody has to be careful," said resident, Shaghayegh Aminrashti.
The victim's name was withheld pending notification of relatives.
Detectives have launched a massive manhunt for the gunman. If you have any information in this case please call the L.A. County Sheriff's Department at (323) 890-5500.