Ed Clancy, Geraint Thomas, Pete Kennaugh and Steven Burke powered to a time of 3:52.499 as they covered 4,000m in 61.9kmph.
Australia, tipped to be their closest rivals, were over three seconds back but British coach Dan Hunt is warning against complacency.
"I’m expecting Australia to step up. I don’t know what I expected really, they came out here and qualified in 3:55, that’s a good qualifying round to put them where they need to be," he said.
"They’re always dangerous, so we won’t give them an inch from here on in.
"There’s no complacency after a first ride, we’re just going to go out and attack them in what could be the final and turn this thing into a real tear-up."
Hunt also thinks his quartet will do better when they've got competition rather than being judged solely against the clock - but he denied the 3:50 barrier could be cracked.
"These guys are racers, so it’s always better when you’ve got another team on the track because it’s actually a race, it’s not just a time trial," he added.
"Plus you’ve got the team in front causing circulating air, so most teams ride quicker with two teams on the track.
"We’re still quite a step away from 3:50 to be honest, but we’ll certainly have a good run at it."
Andy Tennant sat out of the qualifying round but may yet feature in the races to come on Friday.
"It’s a distinct possibility that we might bring Andy in, but we won’t know until the time," added Hunt.
"If Andy was going to get a ride, it’s more than likely that he rides in the first round, rather than bring him in fresh for the final."