The Wallabies have endured a nightmare Bledisloe Cup clash at the MCG, losing the trophy to the All Blacks for a 21st year and also prop Allan Alaalatoa to a serious injury.

While the largest rugby crowd in more than 20 years - 83,944 - turned out, Australian fans left disappointed with the Wallabies going down 38-7 - now winless in their three Tests under coach Eddie Jones.

Two late tries in the first half put New Zealand ahead 19-7, and then the wheels completely fell off the Wallabies in the second stanza with the visitors crossing three times in eight minutes to put the result out of reach.

The Wallabies' night was further soured with star prop Alaalatoa stretchered from the field in the 37th minute with reports he had ruptured an Achilles, ruling him out of the Rugby World Cup in France in September.

The 29-year-old's leg got caught as a scrum went to ground while they also lost his replacement Taniela Tupou, playing his first Test back from his own Achilles injury, early in the second half with a rib injury.

The Kiwis opened the scoring in the third minute when lock Scott Barrett smashed Wallabies halfback Tate McDermott off a line-out, dislodging the ball with Shannon Frizell pouncing for a try.

The home side levelled four minutes later when a try by Marika Koroibete was denied, however the Television Match Official ruled that No.8 Rob Valetini had got the ball down over the line in an earlier phase.

Jones's plan to try and out-muscle the All Blacks with a big, physical pack worked early on as the Wallabies put their rivals on the back foot and had the upper-hand at the breakdown.

But the New Zealanders absorbed the pressure and waited for errors to take advantage.

While All Blacks winger Mark Telea mucked up trying to score off a quick tap, Koroibete was yellow-carded for cynical play.

With Australia were down a man New Zealand mauled the ball across the line through hooker Codie Taylor.

Rookie five-eighth Carter Gordon's restart then failed to go the distance, with Alaalatoa's suffering the injury in the resultant scrum.

In typical Kiwi fashion, they kept the ball alive for 21 phases before winger Will Jordan scored after the halftime hooter.

The Australians had all the ball and territory early in the second half but couldn't find a way to the line while the All Blacks made the most of every chance.

The second Bledisoe Cup Test will be played in Dunedin early next month which is Australia's last match before heading to France.