Dakar champion Price has taken a 2:34s lead following the 226km opening leg from Alice Springs to Finke.
Price had flown back to the start line after completing the course in a Trophy Truck where he is fifth.
His time of 1:53.19s on the #1 KTM 500 EXC bike was more than one minute quicker than the corresponding run last year.
Tye Simmonds (#2KTM 500 EXC) was second with David Walsh (#299 KTM 500 EXC) third.
In the car classifications, Owen and Ryan completed the leg in 1:50.12s in their #30 Jimco Nissan 3500cc buggy.
The #413 Geiser Brothers Trophy Truck Chev 6000cc crewed by West Australians Beau Robinson and Stephen Ketteridge-Hall were second with Mark Burrows/Colin Hodge in the #21 MBR Jimco 2012 Holden Alloytec 3500cc third.
Brad Gallard and Scott Motistach were fourth in the #454 Geiser Brothers Trophy Truck 3500cc.
Price was impressive in finishing fifth with co-driver Kyle Pfitzner in the #487 Geiser Brothers Trophy Truck Chev 6000cc.
Reigning champions, the son and father combination of Shannon and Ian Rentsch in the #1 Jimco Buggy Nissan 3500cc sit in seventh position.