GTA V has been knocked off the top of the charts by the latest release in EA Sports' best-selling Fifa franchise, which debuted at number one.
Last Friday video game shops across the country held special midnight openings as Fifa fans clambered to get their hands on a copy of the game before the weekend.
It was not all good news for Fifa 14 though – launch week sales were down 24 per cent compared to FIFA 13.
By contrast GTA V smashed sales records when it went on sale in mid-September and has been already been hailed as one of the most successful games of all time.
The Rockstar North game generated £500m in its first 24 hours on shelves and a total of more than £1bn after three days – believed to be the fastest entertainment product to reach the milestone.
Strauss Zelnick, chief executive of distributor Take-Two Interactive, which owns Rockstar, said the developers had "outdone themselves, setting the entertainment industry's new standard for creativity, innovation and excellence".
Yesterday the online version of GTA V went live amid concerns that a surge in demand would lead to connection problems and cause glitches in the software.
Rockstar preemptively apologised to fans for what it called "typical growing pains" and asked them to remain patience.
"One thing we are already aware of, and are trying to alleviate as fast as we can, is the... additional pressure on the servers due to a significantly higher number of players than we were anticipating at this point," the company wrote in a blog post.
Video game chart rankings, according to Chart-Track.
1. FIFA 14
2. Grand Theft Auto V
3. Minecraft: Xbox 360 Edition
4. Pro Evolution Soccer 14
5. The Last Of Us
6. Disney Infinity
7. Splinter Cell: Blacklist
8. Saints Row 4
9. Diablo 3
10. Rayman Legends