Just saw this on Twitter. Is it true? Any context?
Sort of true…….
Their AR-15’s aren’t selling well in the civilian market (been loosing money last couple years) with the market offering up decent to good AR-15’s below $700, hard to justify purchasing a Colt at $900+.
So they are going to stop producing that line and focus on R&D for military and LEO contracts (that will be more M4 vs AR15) and their 1911’s and wheel guns which are selling well.
If demand suddenly increases for their AR15, they’ll start the line back up.
That’s my understanding.
That makes perfect sense. Unfortunately, in the current political climate it will be taken differently. I wonder if Colt is going to be assertive about why?
What @JamesR said. Colt has been getting their tails kicked in the highly custom world of the AR with their run of the mill platforms. Folks aren’t going to pay just for the name anymore because there are better names today. Now if Colt would start reproducing period correct lowers I’d be in for a couple. My first combat M-16 was a Vietnam era Colt with the prancing pony and I could see owning an AR if it was right.
Colt has issued a statement. Apparently the decision was strictly financial.
Just saw on Yahoo where some anti’s are spinning the announcement into Colt saying 'it just makes sense ’ to quit making ARs for civilians.
Figures don’t lie, but liars can figure.
This is my shocked face. :-/
Even Fox conflates this with mass shootings.
It’s financial. I hope this means they will focus more on handguns. More production, could translate to more available, lower priced King Cobras.
Yes, that is what I saw on the evening news - "In the wake of recent mass shootings, Colt is discontinuing production of AR assault rifles … "
Colt is not in good shape these days.
" Very few gun manufacturers have the kind of history that Colt has. The Connecticut-based company is a pioneer of sorts in the gun industry. Its diverse assortment of guns and firearms has fueled American conquests in the West and abroad. They were also the preferred weapons of choice for local law enforcement agencies and gun enthusiasts for many years.
That is why it made news when the iconic gun manufacturer filed for bankruptcy in June 2015. In its bankruptcy filing, the company said it was unable to pay the hundreds of millions it owed to dozens of creditors. Colt missed a payment of $10.9 million to holders of senior bonds only one month earlier. The company sought bankruptcy protection to meet all of its obligations to customers, vendors, suppliers and employees while it restructured its balance sheet.
So, what went wrong at an iconic company that made guns used to “win the West”? The answer to that question is a complicated one and involves a mix of bad management, product portfolio, and imprudent financial engineering."
I saw some where the other day that the prices for ar-15 are really low and there’s are a lot out on the market they just decided to concentrate on government sales where there is more profit who buys a $600 hammer? The government!
I heard that Colt’s ARs are not competitive with the many AR manufactures so they are discontinuing the civilian AR production line and concentrating on more innovative development of their handguns. Many many manufacturers jumped on the AR bandwagon resulting in bringing down prices on the AR which is not cost effective for Colt.
They will also try to reinvigorate their long gun competitiveness for military contracts (they lost that contract sometime ago). If they get back into winning military contracts for long guns then their civilian long gun lines will become available again. Lots of R&D needed for Colt’s improving their long gun line which is very costly.
Colt feels its best course is to spend their limited funding on the handgun line which is still popular in the civilian market.
It is sad to see something like that from Colt. They could make a quality rifle that costs less and probably regain market share. It does make it sound like they are leaning left.
Colt has been in trouble for a long time. That happens when you start believing your own legend. Between having quality issues and being late to realize that the market didn’t revolve around their brand and history, they really have a lot of catching up to do. Like Smith & Wesson, they took their eye off the ball and the market moved on.
I hope they can sort it out, they are a part of our legacy of freedom I would be sad to see become just historical.
Harley Davidson went through the same cycle! It took a while for them to get their quality issues resolved and save the company. Maybe Colt will be able to pull it off.