U.S. gun manufacturer Colt has announced it will stop making rifles for the civilian market, including the popular AR-15.
In a statement released Thursday, the company’s chief executive officer, Dennis Veilleux, said, “over the last few years, the market for modern sporting rifles has experienced significant excess manufacturing capacity,” forcing the company to withdraw from the market. He said Colt will continue producing rifles for its military and law enforcement clients.
Veilleux said Colt will also continue “to expand our network of dealers across the country and to supply them with expanding lines of the finest quality 1911s and revolvers.”
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