With the Democrats increasingly embracing a federal ban on “assault-style” rifles and a mandatory gun “buy-back” program, Connecticut-based gunmaker Colt announced this week that it is suspending its production of rifles for civilians, including AR-15s, the most popular gun in America.
In a statement published on Colt’s website and promoted on social media Thursday, Colt President and CEO Dennis Veilleux said the company has decided to temporarily suspend production of rifles for the civilian market, but made a point of noting that the decision is not motivated by a political agenda and that the company remains “committed to the Second Amendment.” Instead, he explained, Colt has determined that the sporting rifles market has reached “significant excess manufacturing capacity.”
“There have been numerous articles recently published about Colt’s participation in the commercial rifle market,” the statement reads. “Some of these articles have incorrectly stated or implied that Colt is not committed to the consumer market. We want to assure you that Colt is committed to the Second Amendment, highly values its customers and continues to manufacture the world’s finest quality firearms for the consumer market.”
“The fact of the matter is that over the last few years, the market for modern sporting rifles has experienced significant excess manufacturing capacity,” Veilleux continued. “Given this level of manufacturing capacity, we believe there is adequate supply for modern sporting rifles for the foreseeable future.” – READ MORE