Peloton, a leading provider of at-home fitness equipment, has issued a recall for approximately 2.2 million of its popular exercise bikes due to safety concerns. The recall, which was announced recently, comes after the company received 35 reports of the bike’s seat post assembly breaking and detaching during use, resulting in 13 injuries, including a fractured wrist, lacerations, and bruises.
The affected bikes are the Peloton Bikes Model PL01, which were sold at Peloton and Dick’s Sporting Goods stores nationwide, as well as online at Amazon, Peloton, and Dick’s websites, from January 2018 through May 2023 for about $1,400. Peloton is offering a free seat post that can be self-installed to address the issue.
In response to the recall, Peloton CEO John Foley issued a statement apologizing to customers and noting that the company is taking swift action to address the issue. He urged customers to stop using the affected bikes immediately and contact Peloton for a free repair.
This recall is a major setback for Peloton, which has been enjoying tremendous success over the past few years. The company experienced significant sales growth during the pandemic, as people sought out at-home fitness equipment due to gym closures and social distancing guidelines. However, sales have slowed in recent months as vaccine distribution has allowed people to return to gyms and resume their pre-pandemic routines.
This is not the first time Peloton has faced challenges in recent months. The company announced job cuts last year as part of a corporate reorganization, and shares of Peloton Interactive Inc. fell more than 6% in Thursday morning trading following news of the recall.
Despite these setbacks, Peloton remains committed to providing high-quality fitness equipment and services to its customers. The company has encouraged affected customers to visit its website or call its customer service line for more information on the recall and how to obtain a free repair.
