The miscreants reportedly unplugged the petrol tube of the vehicles and set them on fire between 3 AM and 4 AM, they said.
The motive behind the crime, that shocked and affected a large number of residents in the area, was not clear, said police inspector B Kashid of Sinhgad police station.
"The motive is not clear. It could be to spread panic," he said.
The parking lots of the vehicles also included a pizza shop where about 25 motorbikes used by delivery boys were destroyed in the fire.
A similar incident involving lesser number of vehicles had occurred in Dhankawdi area of the city a few months back.