Updated 2:45 p.m.
The body found has been identified as Sarah Alarid, said Lt. Dave Dolson of the Sheriff's Department's Homicide Bureau. Sarah Alarid's body was found near her vehicle, which was located by the Sheriff's Department's aero bureau at around 9:15 a.m.
"It appears that Miss Alarid was ejected from the vehicle," Dolson said. "All indications are at this time that there was no foul play involved."
The helicopter was on its way to a report of a shallow grave that was found earlier in the morning off Little Tujunga Canyon Road.
Updated 1:30 p.m.
Mike Alarid, Sarah Alarid's father was escorted into the area by a Fire Department official in a black Cadillac Escalade, and then he and Brian Alarid, Sarah's uncle, were taken by a patrol car to the scene at the 7.98 marker of Sand Canyon Road.
Updated 12:00 p.m.
Los Angeles County Sheriff's Department spokesperson Steve Whitmore has confirmed that the car found is registered to 19-year-old missing person Sarah Alarid.
A body was found at the scene but has not yet been identified. Homicide detectives are currently investigating.
Though the car had gone off the road, no skid marks were seen near where the car was found.
"The car was spotted by the Sheriff's Department Aero Division," said Brian Alarid, who was on the scene near where Sarah's car was found. "They were on their way (what was thought to be) a shallow grave that was found not too far away."
No body was found in the reported shallow grave.
Sarah Alarid was reported missing after attending New Year's Eve gathering at a friend's house. She was driving a 2002 Ford Focus at the time.
More than 150 people, including deputies on the ground and in helicopters, search for Alarid in the days after her disappearance.
Updated 11:10 a.m.
According to Sheriff's Department officials, the silver car was registered to missing person Sarah Alarid. Alarid was last seen leaving a party around 3 a.m. on New Year's Day.
Santa Clarita Sheriff's Deputies have located a silver vehicle that went over the side of the road and into a ravine near Sand Canyon Road, mile marker 7.98.
Search and Rescue is currently trying to reach the vehicle.
Check back for updates as they arrive.
More on the Sarah Alarid story:
Article: Alarid's Car Found 
- Source: Newsroom 
- Author: Allison Pari , Perry Smith , SCVNews.com 
Perry Smith contributed to this report.