Colt, a Connecticut based firearms manufacturer, made the stunning announcement that they will no longer manufacture AR-15's to the consumer market. AR, which stands for ArmaLite Rifle, is made by several other manufacturers and that market has exploded. The fact of the matter is that other manufacturers have been more successful at selling AR 15's in the consumer market than Colt.
Colt President and CEO Dennis Veilleux said, “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.” Colt is focusing on honoring their commitments to our military as well as law enforcement agencies.
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