Gun and Ammo Sales Surge to Record Highs as Gun Control Debate Continues
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While Congress might like to keep saying 90% of the American people want background checks (see 90% Background Checks Debunked) the American people certainly aren’t slowing down on their gun and ammo purchases.
In fact, guns and ammo sales are at an all time high and manufacturers are struggling to keep up with demand.
According to a USA Today report,
In late April, Sturm Ruger (RGR) reported first-quarter results that exceeded targets. Net sales for the largest publicly traded gun manufacturer surged 39% to $155.9 million, compared to $112.3 million a year earlier.
Sturm Ruger can not make guns fast enough to satisfy growing demand. Itsbacklog climbed to 2.1 million orders in the first quarter vs. 337,000 order in the same period a year earlier.
According to the same report, background checks are up over 40% from the same time last year (which were already higher than most previous years), indicating significantly more Americans are purchasing firearms.
This comes as no surprise to anyone in the firearms industry or who follows it. Guns and ammo, especially popular models and calibers, have been extremely hard to find in 2013. When they are found they are often commanding a premium price.