Three things worth noting:
- Colt is the father of the AR-15 and creator of the once highly profitable consumer-grade assault weapon niche. It’s enormous news that they’re out.
- This headline implies that the market is saturated because so many guns have been produced and sold, but if you read the article, that’s not what Colt said. They simply say demand is down. Yes, one explanation is that they overproduced and flooded the market. Another is that fewer people want these guns (often characterized as “the must vilified gun in America.”). Think about cigarettes: Demand for those in the US is also down, not because cigarette manufacturers overproduced and flooded the market, but because we worked hard to make having and using cigarettes less socially neutral and much more publicly controversial.
- Contrary to popular perception, while these guns are enormously popular with those committing the most heinous crimes, they are used in a vanishingly small percentage of total gun crimes.