The coronavirus pandemic has sparked a sharp increase in gun sales to the extent that there’s now a supply shortage in ammunition, Brownells, Inc. co-chairman Pete Brownell told FOX Business’ “Varney & Co.”
Brownell said the industry recorded a 90% spike in firearm sales since mid-March, which continues to surge especially in urban areas. Ammo sales have increased by 30%.
“We could receive truckloads of nine-millimeter [and] we can sell it in hours where it used to take weeks – weeks to a month,” he said.
According to Brownell, the surge will most likely continue through mid-2021 due to coronavirus uncertainty, the ongoing protests over racial injustice and the upcoming presidential election.
“This 'defund the police' movement is driving people to worry about personal security,” he said. “And it's still going to have a demand that’s going to outstrip supply."
Consumers have been most frequently purchasing personal protection pistols, Brownell said, followed by personal protection shotguns and AR-15s.