ALL NEWS

Gun sales expected to set new records after Joe Biden’s White House win

Nov 12, 2020, 8:32 AM
gun sales biden...
LAS VEGAS, NEVADA - OCTOBER 02: Democratic presidential candidate and former U.S. Vice President Joe Biden speaks during the 2020 Gun Safety Forum hosted by gun control activist groups Giffords and March for Our Lives at Enclave on October 2, 2019 in Las Vegas, Nevada. Nine Democratic candidates are taking part in the forum to address gun violence one day after the second anniversary of the massacre at the Route 91 Harvest country music festival in Las Vegas when a gunman killed 58 people in the deadliest mass shooting in recent U.S. history. (Photo by Ethan Miller/Getty Images)
(Photo by Ethan Miller/Getty Images)

    (CNN) — Joe Biden’s projected White House win could boost gun sales in what has already been a landmark year for gun makers.

“The election of a Democratic president who has promised to tighten gun control legislation could very well prompt increased demand for firearms,” says Rommel Dionisio, managing director of Aegis Capital.

Biden has long been vocal on the issue of gun control. The former vice president has said gun manufacturers are “the enemy” of the Democratic party’s gun control efforts. His campaign website calls for a ban on manufacturing and future sales of assault weapons like the AR-15, a position he has maintained since a string of high-profile mass shootings in 2019.

Dionisio says gun owners’ fears of Democrats passing gun control legislation fuels a predictable surge in sales before and after elections.

Gun sales spiked after President Barack Obama’s successful 2008 and 2012 campaigns. The previous record of 15.7 million guns sold in a calendar year was set in 2016, when polling suggested that Hillary Clinton would win the presidency, motivating many people to stock up on firearms, according to Mark Oliva, director of public affairs for the National Shooting Sports Foundation, a trade group that tracks and analyzes gun sales.

Clinton made stricter gun control measures a central part of her 2016 campaign in the wake of the 2015 North Charleston AME church mass shooting. Obama tried and failed to convince Congress to pass stronger gun control measures in the wake of the Sandy Hook Elementary school massacre in 2012. Former Democratic President Bill Clinton signed a landmark ban on assault weapons into law in 1994, which expired 10 years later.

By contrast, President Trump’s election day upset of Clinton was followed by a lull in gun purchases dubbed the Trump slump.

Gun sale-related FBI background checks declined a record 8% in 2017. Revenues reported by Sturm Ruger, Vista, American Outdoor Brand and the Winchester unit of Olin Corp. dropped by a combined total of $610 million, or about 13%, that year.

Gunmaker Remington Arms filed for bankruptcy in 2018, when industry sales dropped an additional 6.1%. But the gun industry bounced back in 2019, when 13.9 million firearms were sold, according to Small Arms Analytics, an industry research firm.

Oliva says Republicans and Democrats’ ongoing battle for control of the US Senate will likely play a pivotal role in gun sales.

Georgia’s US Senate candidates are expected to face two separate runoff elections in January after none of them won a majority on Election Day. If Democrats manage to secure both seats, the party would have a 50-50 split between the parties in the Senate as well as a majority in the House, making gun control legislation a possibility if a Vice President Kamala Harris breaks a Senate tie.

“The industry is taking the Biden campaign at his word,” Oliva said.

Biden’s campaign and transition team did not immediately respond to a Wednesday morning request for comment about his policy on guns.

Gun sales spiked this year as Biden became the front-runner to win the White House. But the industry also got a boost from Covid-19 pandemic lockdowns beginning in March. Americans fearful of a potential crime wave and the related nationwide social unrest that erupted following the police killing of George Floyd compelled many to purchase guns for the first time.

Gun sales in 2020 reached a record high ahead of Election Day after maintaining an unprecedented pace for most of the year. Oliva says October firearm sales rose 60% compared to the same month a year ago and more than 17 million guns were sold through the first 10 months of 2020.

He expects the trend to continue through December.

“We’re heading into the holidays and hunting season, which are traditionally some of the strongest months for firearms sales,” Oliva told CNN Business.

The-CNN-Wire
™ & © 2020 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

Today’s Top Stories

All News

After nine months of rehab in Kanab, Utah, a formerly injured Golden Eagle has been released back i...
Curt Gresseth

Golden eagle saved from death and rehabilitated in Utah flies home

An injured golden eagle spent months rehabilitating in Kanab, Utah after an injury. It was released home in November.
7 hours ago
The world's largest active volcano is shooting fountains of lava more than 100 feet high and sendin...
Holly Yan and Aya Elamroussi, CNN

Lava is spilling toward a key Hawaiian highway, but the governor says it’s safe to visit the Big Island

The world's largest active volcano is shooting fountains of lava more than 100 feet high and sending a river of molten rock down toward the main highway of Hawaii's Big Island.
7 hours ago
Gov. Cox mental health...
Mark Jackson

Utah’s Coordinated Action Plan for Water released this week

Utah’s Coordinated Action Plan for Water was released Wednesday by Gov. Spencer Cox and state agencies.
7 hours ago
The Utah Department of Agriculture and Food announced Wednesday two new cases of avian influenza....
Mark Jones

Two new cases of avian influenza announced Wednesday

Two new cases of avian influenza have been confirmed by the Utah Department of Agriculture and Food. The new cases are in Iron and Utah counties.
1 day ago
A suspect is in custody Wednesday evening after University of Utah Police say two hidden cameras we...
Mark Jones

Hidden cameras found in restrooms in U of U Student Life Center, suspect in custody

University of Utah Police say a suspect has been arrested after two hidden cameras were found inside two different restrooms inside the Student Life Center.
1 day ago
Salt Lake City Police took a 44-year-old man into custody on Wednesday in connection to the burglar...
Mark Jones

SLC Police arrest man for burglarizing two law offices

Salt Lake City Police say a 44-year-old man was arrested Wednesday in connection to burglarizing two downtown law offices last week.
1 day ago

Sponsored Articles

Happy joyful smiling casual satisfied woman learning and communicates in sign language online using...
Sorenson

The best tools for Deaf and hard-of-hearing workplace success

Here are some of the best resources to make your workplace work better for Deaf and hard-of-hearing employees.
Team supporters celebrating at a tailgate party...
Macey's

8 Delicious Tailgate Foods That Require Zero Prep Work

In a hurry? These 8 tailgate foods take zero prep work, so you can fuel up and get back to what matters most: getting hyped for your favorite
christmas decorations candles in glass jars with fir on a old wooden table...
Western Nut Company

12 Mason Jar Gift Ideas for the 12 Days of Christmas [with recipes!]

There are so many clever mason jar gift ideas to give something thoughtful to your neighbors or friends. Read our 12 ideas to make your own!
wide shot of Bear Lake with a person on a stand up paddle board...

Pack your bags! Extended stays at Bear Lake await you

Work from here! Read our tips to prepare for your extended stay, whether at Bear Lake or somewhere else nearby.
young boy with hearing aid...
Sorenson

Accommodations for students who are deaf and hard of hearing

These different types of accommodations for students who are deaf and hard of hearing can help them succeed in school.
Young woman receiving laser treatment...
Form Derm Spa

How facial plastic surgery and skincare are joining forces

Facial plastic surgery is not only about looking good but about feeling good too. The medical team at Form Spa are trained to help you reach your aesthetic outcomes through surgery and through skincare and dermatology, too.
Gun sales expected to set new records after Joe Biden’s White House win