The shooting happened at about 12:05 a.m. near Marmion Way and Figueroa Street, according to the Los Angeles Police Department.
LAPD said the suspect, described only as a 19-year-old male, approached the victim on foot while at a stop light and demanded his truck.
After the victim refused, the suspect then shot the victim three times, police said.
The victim managed to drive to a shopping center and call a friend for help.
He was transported to a local hospital in critical condition.
The 19-year-old suspect was arrested nearby, LAPD said. He was booked on suspicion of attempted murder and carjacking.
No further details were immediately known.
City News Service Inc. contributed to this report.