Alex Davison set the fastest time of the day in the dying stages of the third and final Friday practice session at Phillip Island.

Working with engineer David Paterson for the first time following the departure of Campbell Little to Dick Johnson Racing, Davison shot to the top of the order with a 1:30.95s effort after the chequered flag fell.

The time proved some 0.62s quicker than next fastest man Alexandre Premat, who set his time immiediately after Davison.

Craig Lowndes was another to improve on his final lap on the way to third ahead of Jason Bright.

The Team BOC Holden had been the first into the 1:31s and led the way when the chequered flag waved.

Mark Winterbottom also spent time at the top of the order in the final five minutes before dropping to fifth.

Will Davison, Tim Blanchard, Michael Caruso, Tim Slade and Scott Pye completed the top 10.

Despite an array of spins and off-track excursions, all three 30 minute sessions held ran without a red flag intervention.

David Reynolds had the wildest moment in the final hit-out, spinning at the high-speed Lukey Heights.

Rick Kelly lost time early in the going with a power steering leak. He returned to the circuit to end up 20th; some 0.6s adrift of fastest Nissan man Michael Caruso.

Scott McLaughlin also endured a power steering problem late in the session which left him mired down in 26th.

Another down the order included Lee Holdsworth, who like his Erebus stable-mates struggled with balance throughout the day.

The IRWIN Mercedes had two off-track excursions in Practice 3, winding up 25th.

A fourth and final practice session will be held on Saturday morning ahead of qualifying.

See below for the Practice 3 result