Up, Up And Away - Brief Article

Citing the cost of defending themselves from a rash of "tobacco style lawsuits," many leading gun makers are raising prices in midyear, an unusual step. Normally, price increases on firearms are instituted at the first of the year.

Sturm, Ruger & Co., Remington Arms, Taurus International, Springfield Armory and SIG Arms raised prices effective July 1. The price hikes ranged from 2.5 to 5 percent. O.F. Mossberg & Sons raised prices 3 percent effective August 2.

While there have been over 20 lawsuits filed by cities, counties and even the NAACP against the industry for the "cost of gun violence," it should be noted that no litigation has actually taken place. The price increases, insiders say, are more a matter of the manufacturers taking advantage of strong demand for guns due to fears of Y2k and further gun control.

"Colt raised their AR prices 7 to 10 percent in June. You can't tell me that isn't because demand is rampant right now' a veteran industry observer said. Indeed, the dealer price for a Colt Match Target rifle surpassed the $1,000 mark with the new price increase.

"This isn't nearly as bad as the price increases some manufacturers pulled in '94, but it just goes to show you that the gun makers need to make hay while the sun shines. There's an awful lot of clouds ahead," a source said.

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