The impact reportedly flung Sandoval 75 to 100 feet, where she died of her injuries. Her friend was uninjured.
Coupled with witness descriptions and his Mercedes, Grigoryan was "real close to being a prime suspect," Glendale Police Chief Randy Adams said.
Grigoryan is described as being 5-foot-5, 160 pounds and as having brown eyes and short black hair.
The license plate number registered to the Mercedes is "O7TT777," police said.
At a separate press conference held later the same day, Adams admonished Mercedes-Benz of North America for refusing to comply with a court order to activate the car's standard Global Positioning System so that authorities might pinpoint the sedan's exact location.
"It's one of the most frustrating thing in my 35 years of law enforcement," he told reporters.
A court order police obtained at 2:30 p.m. Friday was faxed to Mercedes-Benz North American headquarters in New Jersey and to the company that provides the global positioning satellite service, Irving, Texas-based Tele-Aid.
Calls made to a Mercedes-Benz representative were not returned as of press time.
"It's absurd," said Jackie Sandoval, Elizabeth's sister. "I mean, what [is Mercedez-Benz] getting out of it?"
The Mercedes, which was likely traveling at up to 60 mph when it hit Sandoval, fled the scene, and police have been encouraging witnesses or anyone who might know the driver to come forward.
"We would very much like to speak with Mr. Grigoryan," Adams said.
Detectives have not been able to track Grigoryan down at any of his previously listed addresses, and Adams would not confirm if police have contacted any of his family.
Police did confirm Friday that the car is registered to one of Grigoryan's family members, but would not say who.