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Assault rifles may soon be dirt cheap after Colt cites flooded market and ends AR-15 production

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Colt Firearms announced on Thursday that it is ending the manufacture of the AR-15 due to “significant excess” of assault-style rifles in the firearms market.

In a statement posted to the Colt website on Thursday, Colt argued that the market for AR-15, which it refers to as a “modern sporting rifle,” is saturated in the U.S.

“The market for modern sporting rifles has experienced significant excess manufacturing capacity,” the statement said. “Given this level of manufacturing capacity, we believe there is adequate supply for modern sporting rifles for the foreseeable future.”

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“We want to assure you that Colt is committed to the Second Amendment, highly values its customers and continues to manufacture the world’s finest quality firearms for the consumer market,” the company added.

Paul Spitale, a senior vice president at Colt, pointed to lower margins and reduced sales.

“What’s true today is that the [modern sporting rifle] market is much more price-driven,” Spitale told the NRA’s Shooting Illustrated magazine. “We’ve seen a pretty sharp decline in rifle sales, given our price points, resulting in significant inventory build-up held by our distributors.”

The AR-15, which was first manufactured by Colt, is now sold by many firearms companies.

It could be a sign that the price of assault-style weapons in the U.S. is about to drop. AR-15s and similar weapons have been recognized as the gun of choice in many mass shootings.

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Nicolle Wallace tells Colbert why she cursed at Fox News host Laura Ingraham — and that she left the GOP

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MSNBC host Nicolle Wallace appeared on Stephen Colbert's "Late Show" Wednesday after spending hours analyzing the impeachment hearings that began that morning.

One of the first things Colbert asked about was the recent smackdown from Wallace about Fox News host Laura Ingraham and her guests going after Col. Alexander Vindman. Ingraham proposed that because Vindman was born in Ukraine that he was somehow a traitor to the United States for coming forward about President Donald Trump's admitted crimes.

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‘It takes a small mind to want to out a whistleblower’: Rachel Maddow blasts Trump and GOP

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In an analysis of the first day of impeachment, MSNBC host Rachel Maddow explained to late-night comedian Jimmy Fallon why the impeachment hearings were a lot more rational than she anticipated.

Rep. Jim Jordan (R-OH) switched committees just to appear and ask questions and Rep. Devin Nunes (R-CA) humiliated himself, but aside from that, Maddow said she was surprised there were reasonable questions, and everyone remained calm.

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Seth Meyers mocks Devin Nunes saying Dems wanted to find nude photos of Trump: ‘Literally no one wants that’

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"Late Night" host Seth Meyers ridiculed Rep. Devin Nunes (R-CA) for his absurd line of questioning that accused Democrats of the impeachment is the same as the Russia scandal.

Nunes said that Democrats want the world to forget about their efforts to obtain nude photos of Trump, something Meyers countered with actual sense.

"Hey man, I guarantee you no one wants nude pictures of Donald Trump," Meyers said. "I'm not crazy about clothed pictures of Donald Trump. Also, I have to believe that if there were nude pictures of Donald Trump, the first person to show them would be Donald Trump. He'd probably hold a press conference with a giant poster board."

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