Old Kent Road was closed to traffic all day on Sunday after a driver was killed in a crash in the early hours of the morning.
Police have appealed for who saw a Black Audi RS4 car being driven around the Old Kent Road area early on Sunday morning to contact them.
"At this stage our forensic team are working to establish the cause of the holes that were found in the car that had crashed," said Detective Inspector Dave Reid.
"One line of enquiry, which we are unable to confirm until those tests are complete, is that the holes were caused by shots being fired at the car.
"I would appeal for anyone who saw a Black Audi RS4 car being driven early that morning around that area or along the Old Kent Road to contact us."
Anyone with any information is asked to contact police at the incident room on 020 8721 4054 or phone Crimestoppers on 0800 555 111.
"Reports of a high speed chase, a vehicle on fire, shooting and a death on the Old Kent Road are clearly horrific.
"We must wait for the police to get to the truth of what happened. In London we have been winning the battle against serious crime.
"We must not allow events now to go in the opposite direction."