Gunmaker Colt says it is suspending production of rifles for the civilian market, including the AR-15.
In a press release Thursday, Colt's chief executive officer, Dennis Veilleux, announced the company, is for now at least, suspending production.
The fact of the matter is that over the last few years, the market for modern sporting rifles has experienced significant excess manufacturing capacity. Given this level of manufacturing capacity, we believe there is adequate supply for modern sporting rifles for the foreseeable future.
On the other hand, our warfighters and law enforcement personnel continue to demand Colt rifles and we are fortunate enough to have been awarded significant military and law enforcement contracts. Currently, these high-volume contracts are absorbing all of Colt’s manufacturing capacity for rifles. Colt’s commitment to the consumer markets, however, is unwavering. We continue to expand our network of dealers across the country and to supply them with expanding lines of the finest quality 1911s and revolvers.
At the end of the day, we believe it is good sense to follow consumer demand and to adjust as market dynamics change. Colt has been a stout supporter of the Second Amendment for over 180 years, remains so, and will continue to provide its customers with the finest quality firearms in the world.
Currently on the Colt webpage, all rifles are listed as “no matching items found” or “out of stock" with the exception of the XM177E2 Retro Carbine under the “AR-15 Military Classics” banner.