The victims were on their way to Multai from Mahabaleshwar town when the mishap occurred on National Highway no. 69, police said.
The deceased were identified as - Ravi Bobade (21, a journalist), Kamlesh Daamdhar (23), Twinkle Charle (24), Tulsi Pawar (28) and Chetan Daamdhar (09).
The five persons seriously injured in the mishap were referred to Nagpur for treatment.
A case has been registered in this regard and further probe is on, police said.