Posted on 09/19/2019 9:28:42 AM PDT by GIdget2004
Colt Firearms will be ending its production and sales of its AR-15 rifles due to lack of public demand amid excess market capacity.
Colt released a statement on Thursday to clarify the decision, which was made because the company simply isn’t selling enough of the rifles in the civilian marketplace to continue devoting the resources into it.
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.”
(Excerpt) Read more at americanmilitarynews.com ...
” they are actually concentrating on building up their pistol and revolver line. So I don’t think they’ve made a bad political move it’s just a business decision although some may try to construe it as that.”
Bullsquirt. At the very moment it’s trendy, the Connecticut company is virtue signaling. Their effort to work on pistols and revolvers in no way was impeded by the rifle line.
Overpriced anyway.
If you want to engage in that bullheadedness that is your perigative. My information comes from a firearms industry affiliated person. Period.
They can create their business model on me, alone.
As in, they should ‘hit it’?
No, Colt has had financial troubles for a long time. They are union, and their products are overpriced, an NO better than a lot of other AR manufacturers. If I were shopping for an AR, I wouldn’t even consider a Colt unless it was a used one at a good price. Colt’s government contracts are the only thing that has kept them afloat for years.
Diasgree. Colt made much of their Ar15s design proprietary eg pins, etc. They are not as easy to upgrade/add mods as the other manufactueres/builders. Colt did not keep up with new AR15 innovations and went down a dead end street.
Even if you did buy one at a great price, you would likely throw the upper away and get a modern one.
I have a Rock River Arm AR, I like it, seems to work just fine, and as far as accuracy, well I acknowledge I’m the limiting factor there. I just don’t get as much practice as I need. I used to be a well above average marksman. Now I’d say average on one of my good days.
Baloney. Last I looked, Glock sells a ton to police and military. But they never had to cut the civilians off to do so.
This is corporate BS virtue signaling. I hope trey go bankrupt. Better to enjoy their memory than to see them turn traitor.
I thought I remember reading that the first AR 15’s (SP-1 Carbine) are worth a bunch? Like $2900 bucks (Blue Book values 2011 edition)! Still that value today?
It is now a commodity.
There is little $$$ to be made as others make it cheaper and in many cases, better.
...
They have dropped to $400 or so...you are correct...flooded market...safer with PDJT, so fewer buyers, fewer peppers.
They’re priced way too high and the stock trigger sucks.
L
The US government won’t contract with Colt any more, actually. Colt lost their last contracts to Remington and then FN.
All that’s left is LEO and the occasional foreign military sale.
They already lost their US military contracts some years back.
My oldest son tells me the same thing. I keep telling him to spec one out and we'll build it together. Still waiting .....
Are their lowers still incompatible with most triggers due to the pin size?
Agreed. I can well imagine there is limited public demand for an actual Colt AR-15 that sports a high (highest?) price tag when less expensive AR style brands are available. Anderson, S&W, Bushmaster and others.
If they were serious about continuing the AR platform, they would come out with job-specific products such as for Service Rifle competition. Following early successes (Single Action Army, 1911) the AR15 patent expired, and they lost the military sidearm competition to Beretta in 1985. The company has floated in and out solvency, going bankrupt in 1842, six years after it first started. Bankrupt again in 1994. Sciens Capital Management was the new owner in 2005, and showered his Board Of Directors with cash.
According to one estimate, at least $131 million of the total debt incurred by Colt during its recapitalization in 2004 was used to “make distributions to Sciens in 2007.” Colt seems to have been, all along, “The Gang Who Couldn’t Shoot Straight”.
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