Millions of Americans purchased firearms during the eight years of Barack Obama. Efforts by Obama and Democrats to ban and restrict many types of guns and gun accessories along with other gun control laws spurred the huge record sales of firearms and ammunition.
Many feared that gun sales would plummet after the election of Donald Trump, since he and fellow Republicans have promised to protect Second Amendment rights.
In the first few months after Trump taking office, firearm sales was up and down, but overall, gun sales has declined since the fear of Democrats’ gun control laws has diminished.
Sturm Ruger reported that they did experience a decline in gun sales during the second quarter, however, CEO Christopher Killoy said that it’s not all gloom and doom.
Sturm Ruger (RGR) recorded a decline in gun sales during the second quarter, saying demand has cooled off after an election-year surge.
In a conference call with analysts on Thursday, Ruger CEO Christopher Killoy said demand slowed “considerably” compared to the same period in 2016, when gun sales got a boost from the presidential election. Last year, background checks conducted by the FBI, including purchases and permit applications, hit a record 27.5 million. The pace of background checks has slowed this year, indicating weaker consumer demand. The sales boom preceding the election likely pulled some potential 2017 sales into 2016, Killoy noted.
“I think there was a big hangover coming off the election cycle, for sure, that had to be worked off,” he said…
Killoy is right that it’s not all gloom and doom as there are still many people purchasing firearms. As more Republican-controlled states pass concealed carry and constitutional carry laws, more people are buying handguns to carry for self-defense. Shotgun sales are also expected to do well as many people are buying shotguns for in home self-defense.