UPDATE: Gun manufacturer Colt issues statement clarifying confusion on production of AR-15s

WASHINGTONEXAMINER.COM:

Gun manufacturer Colt announced that it would suspend the production of commercial rifles, including AR-15s.

Colt’s chief executive officer, Dennis Veilleux, said in a statement Thursday that the suspension doesn’t mean that the company would permanently halt the production of its rifles but that the market for the guns “has experienced significant excess manufacturing capacity.”

The article goes on to state the following:

“There is adequate supply for modern sporting rifles for the foreseeable future,” Veilleux said.

2020 Democrat presidential candidate Beto O’Rourke, who has declared ALL AR-15s should be confiscated, touted an AP News report which stated that Colt is suspending production. O’Rourke wrote that Colt is stopping production of AR-15s.

ABC News reported that Colt is stopping production of AR-15s. Daily Wire reporter Ryan Saavedra noted, “This is a blatant lie. Colt is suspending production of civilian AR-15s because they need to fill orders for the military / police and they have tons of stock for civilians right now. They are going to resume civilian production once they’re caught up with the other orders.”

Colt released the following statement on their website on Thursday to clarify the confusion:

WEST HARTFORD, Conn. (September 19th, 2019) – There have been numerous articles recently published about Colt’s participation in the commercial rifle market. 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. 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.

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