Peloton recalls more than two million bikes over safety issues

Peloton recalls more than two million exercise bikes over concerns that the bike’s seat post assembly can break during use and pose fall and injury hazards to the customers. The company has also advised owners to immediately stop using the bikes and contact Peloton for a free repair. As of Thursday (May 11), the shares of Peloton Interactive fell more than eight per cent.

The recall of 2.2 million bikescomes as the Peloton has received several reports of injuries including “a fractured wrist and lacerations” after the bike’s seat broke during use. The bike in question is the Peloton Bikes Model PL01 which was sold from January 2018 through May 2023 and cost nearly $1,400.

The recall was issued by the United States government’s Consumer Product Safety Commission, on Thursday, which also alerted the owners about the risks associated with the bike model. So far, the company has received some 35 reports of the seat post breaking and detaching from the bike during use out of which 13 were of those customers that were injured.

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The free repair offered by Peloton also includes a free seat post that can be self-installed. In a statement, issued by the company they said that they identified 35 reports of “seat posts breaking” out of the 2,160,000 bikes sold as of April 30.

“As part of our commitment to product safety, we are voluntarily recalling the seat post of affected units to provide a free replacement seat post,” said Peloton.

The company’s shares have fallen nearly 40 per cent in the past year which is after the rise in popularity that Peloton witnessed during the COVID-19 pandemic due to the closure of gyms. Meanwhile, Peloton is also said to be in the process of a corporate reorganisation.

In October, the company announced that it was cutting around 500 jobs which was months after it fired nearly 800 people and said it is closing its North American distribution network and giving the delivery work to third-party providers.

In 2021, the New York-based company recalled its treadmill model, Tread+ and Tread, after a child died and more than 70 people reported injuries. It was also around this time that the sales had somewhat slowed down as the vaccine rollout had begun and people were heading back to gyms.

In the same year, Peloton CEO and co-founder John Foley resigned as the company was struggling to turn business around.

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