Peloton is recalling two million exercise bikes over safety concerns, the second major recall the fitness company has faced. Shares of Peloton on Thursday fell 67 cents, or 8.9 percent, to $6.86.
According to a Thursday release by the Consumer Product Safety Commission, the bikes’ seat post could break during use, posing a fall/injury.
Peloton has received 35 reports of the seat post breaking and detaching from the bike during use, including 13 reports of injuries, including a fractured wrist, lacerations and bruises.
“Consumers should immediately stop using the recalled exercise bikes and contact Peloton for a free repair,” the release said. “Peloton is offering consumers a free seat post that can be self-installed.”
This recall involves Peloton Bikes with model number PL01 sold from January 2018 to May 2023 in the U.S. and is one of the company’s flagship products. It added that there is no impact on Peloton Bike+ Members nor Peloton original bike owners in the UK, Germany and Australia.
In May 2021, Peloton issued a voluntary recall of two treadmills, the Tread+ and the Tread, following at least 72 safety incidents involving people, pets and objects pulled underneath the equipment, one of which resulted in the death of a six-year-old.
Photo courtesy Peloton
