The women managed to get out of the car and hold onto the channel walls until swiftwater rescuers arrived.
Eventually they were placed on stretchers and lifted by crane.
"The girls definitely had their guardian angel watching over them today. They weren't trapped in the car, the car didn't land upside down. It would have been a completely different scenario," said Wes elder, LAFD.
Authorities also used a crane to lift the car out of the channel.
The women were taken to a nearby hospital. Their condition has not been released.
Investigators believe speed may have been a factor.