Yahoo Finance Peloton recalls 2m bikes after seats falls off
Peloton is recalling 2.2m exercise bikes after some users injured themselves when the seats broke off.
The internet-connected exercise bike maker said it had uncovered 35 incidents of “seat posts breaking out” on its products sold in the US between January 2018 and May 2023.
The part that attaches the saddle to the frame can break in certain circumstances on its $995 bikes, the company said.
Several users have injured themselves because of the defect, including one case of a broken wrist.
Peloton said bikes in Britain are not affected by the recall.
This marks the fourth time Peloton has disclosed a product defect in recent years, following recalls of bike pedals and both its treadmills.
In 2021, Peloton was forced to cease sales of its high-end treadmill, the Tread+, after it was revealed that a young child died after being swept under the device.
It remains off the market two years later while Peloton works on a fix, and refunds are still being offered.
The troubled manufacturer said the latest issue with its saddles would cost it an estimated $8.4m (£6.7m).
Peloton said in a statement: "We have identified 35 reports of seat posts breaking out of 2,160,000 units sold in the United States, as of April 30.
“Our commitment to Member safety is unwavering.”
Owners of the Peloton Bikes Model PL01, the affected machine, were advised to stop using them immediately.
Breaking seat posts are the latest setback for Peloton, which is struggling with a painful turnaround.
The company saw its sales and share price surge during the pandemic as its at-home exercise devices exploded in popularity during lockdowns.
However, it has struggled with falling sales since then as gyms have reopened.
The company cut over 1,000 jobs last year in response to weak demand.
Earlier this month, chief executive Barry McCarthy told shareholders that Peloton wanted to grow its non-cycling business, such as strength training, yoga and meditation, in an effort to boost sales.
Shares in Peloton fell more than 8pc on news of the recall.
