The men, dressed in black with balaclavas and carrying knives, pulled a 23-year-old man out of his car in Cumbernauld on Wednesday night.
They then drove off in the black Mazda 3.
The robbery took place on Elm Drive at about 10.45pm and police are appealing for witnesses.
Detective Constable Stephen Scullion said: “Although nobody was hurt, this attack was frightening, violent and has left a man without his car.
“Officers have been working to try and recover the vehicle as well as those responsible however are appealing to anyone with information to come forward.
“Did you see the robbery take place? Did you see a black Mazda 3 driving off from the area?”
Officers particularly want to speak to a woman driving a small dark blue car who the victim spoke to shortly after the incident and are appealing for her to contact them.
Anyone with information regarding the incident can contact police on 101 or alternatively call Crimestoppers on 0800 555 111 where information can be given anonymously.