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Peloton Recalls More Than 2 Million Bikes Due to Safety Hazard

Peloton Stock Goes Up As Home Workouts Increase
SAN ANSELMO, CALIFORNIA – APRIL 06: Cari Gundee rides her Peloton exercise bike at her home on April 06, 2020 in San Anselmo, California. More people are turning to Peloton due to shelter-in-place orders because of the coronavirus (COVID-19). Peloton stock has continued to rise over recent weeks even as most of the stock market has plummeted. However, Peloton announced today that they will temporarily pause all live classes until the end of April because an employee tested positive for COVID-19.

Peloton is recalling more than 2 million bikes due to a safety hazard that has resulted in several injuries. About 2.2 million Peloton Bikes with model number PL01 sold from January 2018 to May 2023 in the United States — one of the company’s flagship products — are being recalled, with a Thursday release by the Consumer Product Safety Commission reporting that the bikes’ seat post can break during use, posing fall and injury hazards.

Peloton has already received 35 reports of the seat post breaking and detaching from the bike during use, the CPSC said, including 13 reports of injuries that include a fractured wrist, lacerations and bruises. The release said, “Consumers should immediately stop using the recalled exercise bikes and contact Peloton for a free repair. Peloton is offering consumers a free seat post that can be self-installed.”

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On its website, Peloton said in a statement that the original bike model can be identified by its PL-01 model number not eh label located on the inside front mark (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. Customers impacted by the recall can obtain their free replacement seat post by visiting this page, then can install said replacement seat post themselves with help from this video. Customers can call Peloton’s Member Support team at 866-679-9129 from 6 a.m. to 12 a.m. ET seven days a week or online at Peloton’s Support site.

Peloton said it has contacted all affected owners of the bikes via email with details on how to order a replacement seat post. If you are a bike owner and had an incident with the product you haven’t yet reported to the company, you can still do so by contacting the company’s Member Support Team.

This is not the first time Peloton has faced a widespread recall. In May 2021, it was forced to recall all of its treadmills after a child’s death. Peloton’s then-CEO, John Foley, issued a statement at the time, saying, “The decision to recall both products was the right thing to do for Peloton’s Members and their families. I want to be clear, Peloton made a mistake in our initial response to the Consumer Product Safety Commission’s request that we recall the Tread+. We should have engaged more productively with them from the outset. For that, I apologize.”

Peloton’s stock fell more than 7% following Thursday’s announcement.