Colt will stop manufacturing AR-15 assault rifle for consumer market

Venerable gun manufacturer Colt says it will stop producing the AR-15, among other rifles, for the consumer market in the wake of many recent mass shootings in which suspects used the weapon.
"At the end of the day, we believe it is good sense to follow consumer demand and to adjust as market dynamics change," Dennis Veilleux, president and CEO of Colt, said in a statement. "Colt has been a stout supporter of the Second Amendment for over 180 years, remains so, and will continue to provide its customers with the finest quality firearms in the world."
The company did not mention mass shootings in its statement about stopping production and instead blamed the indefinite pause in making the weapon on a "significant excess manufacturing capacity."
"Given this level of manufacturing capacity, we believe there is adequate supply for modern sporting rifles for the foreseeable future," Veilleux said.
Colt will continue to make weapons, including rifles, for the military and law enforcement. It will also continue to produce its signature 1911s and revolvers.
The AR-15, and AR-15-style rifles, have been used in a number of mass shootings in recent years. While it's not clear if Colt was the specific manufacturer in the cases, the shooter in the Poway synagogue massacre in Pittsburgh killed 11 people with an AR-15.