Colt has announced that they are suspending the production of their AR-15 rifles for the civilian market. The company says they will continue to fulfill orders for law enforcement and the military.
The gunmaker explained that the market for AR-style rifles has become oversaturated, creating an "excess manufacturing capacity."
"The fact of the matter is that over the last few years, the market for modern sporting rifles has experienced significant excess manufacturing capacity," Colt said in a statement. "Given this level of manufacturing capacity, we believe there is adequate supply for modern sporting rifles for the foreseeable future."
Colt says the decision does not change their commitment to bringing high-quality firearms to the market.
"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."
Photo: Getty Images