Ethan Mitchell, Sam Webster and Edward Dawkins during New Zealand's record breaking performance. Photo: Getty Images
The team, featuring Southlander Eddie Dawkins, Sam Wesster and Ethan Mitchell, rode a time of 42.54, but were pipped by an Olympic Record time of 42.44.
Earlier the Kiwi team rode home in a then-Olympic record time of 42.53secs to qualify for the gold final, beating Germany in the third heat.
The record came not long after Great Britain had broken it themselves, riding 42.56secs in the qualification round.
