Police said the 16-year-old, who suffered head injuries on Saturday, died at Derriford Hospital in Plymouth that night.
The crash happened at 12.15 GMT on Saturday on Great Western Road, outside Paignton train station.
The driver of the silver Vauxhall Vectra, a 42-year-old local man, was uninjured.
A police spokesman said: "Police are now looking at contacting the victim's family members.
"It is a tragic incident that we are dealing with and we are asking people to drive carefully in the bad weather we are having at the moment."
A teenage foreign student has died in hospital after being hit by a car in Paignton.