The accident took place around 10 PM last night near Latulpaid village in the ghat section when the Mumbai-based family was proceeding towards Nashik, PSI of Kasara police station K G Ghosalkar said.
The deceased were identified as Sitaradevi Vijaykumar Pandey (55) and her daughter Sashi Pandey (25).
"The car hit the protection wall and fell into the 250- foot deep valley, in which the mother-daughter duo was killed on the spot," Ghosalkar said.
Police have registered an offence under section 304 (A) (causing death by negligence) of the IPC in connection with the accident.
"We are yet to know who was driving the car as all the injured are still unconscious," the officer said.