Peloton is recalling 2 million bikes

Originally Published: 11 MAY 23 10:23 ET

Updated: 11 MAY 23 16:55 ET

By Jordan Valinsky, CNN Business

    (CNN) -- Peloton is recalling 2 million bikes because of a safety hazard caused by the adjustable seat that could break during use and injure the rider.

The US Consumer Product Safety Commission issued the recall Thursday, telling owners of Peloton bikes with model number PL-01 to stop using the bike immediately. Affected customers should contact the company for a free repair kit that they can install themselves.

In a press release, Peloton said that the $1,400 bikes were sold from January 2018 to May 2023 in the United Sates only. It has identified 35 reports of "seat posts breaking" out of the 2,160,000 bikes sold as of April 30. The CPSC added of the 35 reports, 13 people said they were injured, including a "fractured wrist, lacerations and bruises due to falling from the bike."

"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," the company said.

Shares of Peloton slid more than 6% following the news.

It's the second major recall for the exercise company, which was forced to recall 125,000 of its treadmills following the death of a six-year-old child and dozens of other reports of injuries related to its machines.

Peloton was fined $19 million fine for failing to promptly report treadmill hazards and for distributing recalled treadmills the CPSC said in January.

The-CNN-Wire
™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.