Zac Olumegbon, from Brixton Hill, and a friend were ambushed by four young men at the gates of Park Campus School in West Norwood.
Detectives are appealing for anyone who saw the car used by the suspected murder gang to get in touch. The green Nissan Almera was found on Saturday in Holland Grove, Stockwell.
Detective Chief Inspector John McFarlane said it was stolen on June 29 in Brixton.
“I am appealing for anyone with information on the whereabouts of this car since it was stolen and who may have been using it to come forward. It is believed to have been driven in the Lambeth area in the days since its theft.”
A post-mortem examination found the cause of death was stab wounds to the chest.
Two of the boys in custody were arrested on Friday, one on Saturday and another yesterday.
Police believe four black men arrived in the car before the attack and a confrontation took place outside the school on Friday morning involving the two victims.
The pair were chased into Gipsy Road Gardens, where Zac was repeatedly stabbed.
His 14-year-old companion ran back to the school to seek safety but was attacked in the grounds and stabbed in the arm.
Police, the London Ambulance Service and an air ambulance arrived on the scene at 8.50am, where they found Zac with multiple stab wounds. He was taken to a south London hospital but was confirmed dead shortly after arrival.
His friend was also taken to a south London hospital, suffering minor injuries.
Tributes to the dead teenager were left at the scene and on microblogging site Twitter and social networking site Facebook. More than 3,000 people joined a Facebook group called R.I.P Lil Zac. He was the 13th teenager to be killed in the capital this year.
Park Campus is a specialist school educating some of London’s most troubled young people, hailed as the first of its kind on its launch two years ago. Three other teenagers, all arrested on Friday, were bailed.
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