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Peloton is recalling more than two million of its exercise bikes Model PL01, following revelations that the seat post assembly can break during use and cause injuries, The Guardian has reported.
This particular model was sold from January 2018 to May 2023 for roughly $1,400 (£1,120) by Peloton and Dick’s Sporting Goods stores nationwide and online at Amazon and from Dick’s website, as well as directly from Peloton.
The recall came after the company received 35 reports of the seat post breaking and detaching from the bike during use, of which also included 13 reports of injuries such as a fractured wrist, lacerations and bruises due to falling from the bike.
Peloton has reportedly advised consumers to immediately stop using the recalled exercise bikes and to contact the retailer for a free repair, as it is offering a free seat post that can be self-installed at home.
Following news of the recall, Peloton shares fell more than 7% on Thursday (11 May) morning.
The company’s shares have fallen 39% over the past 12 months after experiencing incredible sales growth during the height of the Covid-19 pandemic.
However, Peloton had announced in October 2022 that it was cutting approximately 500 jobs, following initial lay-offs of some 784 jobs in August. The company also closed its North America distribution network and shifted delivery work to third-party providers.
