Colt to stop making AR-15s for civilians

Legendary gun maker Colt has announced Thursday that it would stop making the AR-15 and other long guns for the civilian market, citing falling demand and obligations to military and law enforcement markets.

In a statement, Dennis Veilleux, president and CEO of the 180-year-old, Connecticut-based manufacturer, explained the company’s reasons for the move, which had been reported in trade and other publications.

“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,” he wrote.

Demand from military and law enforcement, he added, was expanding at the same time.