Peloton is forced to recall TWO MILLION exercise bikes over safety fears

Peloton is recalling over two million of their exercise bikes after a warning was issued that the bike seat post assembly could break and cause users to fall.

Around 2.2 million of bike model PL01, the original Peloton bike, is to be recalled and users are being urged to stop using them immediately. 

The recall affects models made between January 2018 and May 2023. 

According to the Consumer Product Safety Commission, there have been 35 reports of people falling off their $1,400 bikes due to a faulty seat.

This has resulted in 13 reported injuries including a fractured wrist, lacerations and bruises.

In a statement, they said: 'Consumers should immediately stop using the recalled exercise bikes and contact Peloton for a free repair.' 

Over 2 million of the bikes are to be recalled and users are asked to stop using them immediately

The company enjoyed a boom in popularity during the pandemic but has struggled to recover since COVID-19 restrictions ceased 

In a statement, the company said: 'In cooperation with the US Consumer Product Safety Commission (CPSC), today Peloton announced a voluntary recall of the Peloton original Bike sold from January 2018 to May 2023 in the US. 

'The seat post can break unexpectedly during use, creating a potential fall and injury risk. 

'We have identified 35 reports of seat posts breaking out of 2,160,000 units sold in the US, as of April 30, 2023.

'There is no impact to Peloton Bike+ Members nor Peloton original Bike owners in the UK, Germany, and Australia.

'The Peloton original Bike model can be identified by its PL-01 model number on the label located on the inside front fork (near the flywheel), the red “P” logo followed by the white-colored "Peloton" brand name on the Bike's frame, and by its non-swivel display.

'Our commitment to Member safety is unwavering. For Peloton, it was important to proactively engage the CPSC to address this issue and to work swiftly and cooperatively to identify a remedy.

'Peloton is offering a free, updated seat post to all US Peloton original Bike owners, which can be installed at home, without the need for a service call. One seat post replacement will be offered per Bike.'

Following the announcement earlier today, the share price of the company tanked, dropping 8%. 

The company issued a statement to users of the bike also, alongside two other emails concerning their privacy preferences and an update to their terms of service. 

Pictured: Peloton CEO Barry McCarthy

The company issued the above statement to all users who had been affected by the recall via email 

The share price of the company tanked today after the announcement, dropping 8% 

This latest recall comes just a few months after the company agreed to pay out $19 million as a civil penalty after a six year-old boy was killed by one of the firm's treadmills. 

Peloton knowingly failed to immediately report that their Tread+ treadmill contained a defect that could create a substantial product hazard.

The same device injured at least 13 other people, leaving them with broken bones, cuts and friction burns.  

The civil penalty also settled charges that Peloton knowingly distributed recalled treadmills in violation of the Consumer Product Safety Act. 

This latest recall comes as Peloton struggles to turn around its business after it surged in popularity and enjoyed booming sales during the COVID-19 pandemic. 

In 2021, a child was killed in an accident involving their treadmill causing shares to fall.

In October 2020, Peloton issued a voluntary recall on pedals for 27,000 of its bikes after consumers reported pedals breaking off and causing more than a dozen injuries, including some that required stitches.