Peloton wants people to know it’s more than “that bike company.” Unfortunately, those bikes are at the heart of the beleaguered fitness company’s latest woes. Today, Peloton and the U.S. Consumer Product Safety Commission (CPSC) issued a voluntary recall of 2.2 million Peloton bicycles after 35 reports of seats breaking or falling off during use.
a Bloomberg report provides some more details about the faulty seat. The part that attaches the seat to the bicycle frame may break off at the welded joint. Of the 35 reports, 13 resulted in injuries, including a broken wrist, cuts and bruises.
The affected bikes were sold in Peloton and Dick’s Sporting Goods stores and online stores, as well as on Amazon. Only the PL-01 models are affected and you can check the name and model number on the label on the inside of the front fork near the flywheel. It must also have a non-rotating display and a red “P” logo followed by white letters on the frame. The recall does not affect Bike Plus owners or original Bike owners who purchased their bikes abroad.
The CPSC recommends that owners stop using the device immediately and contact Peloton for a free seatpost. According to Peloton press release, owners can install the new post themselves without the need for a service call. You can call Peloton at 866-679-2129 or click here. Only customers who are still in a 30-day home trial or within the normal product return period can request a return.
Peloton’s proactive approach to this recall is in stark contrast to the way it handled its 2021 Tread Plus and Tread recalls. At the time, Peloton initially denied that its treadmills posed any danger, despite reports that several people had been injured and a young child had died.
“We proactively communicate with all members who own a Peloton Bike – the original Bike or Bike +,” said Peloton in a rack. “We believe members should be aware of the US issue, understand whether or not they are affected by the voluntary recall, and guide them through any steps they need to take.”
While the timing of the recall is likely a coincidence, I can’t help but grin at Peloton’s luck. On its earnings call last week, Peloton also said it is planning a “brand relaunch” as part of its strategy to showcase its non-Bike offerings to new customers later this month. The recall also comes at a time when Peloton is just beginning to recover from the dismal 2022. This one recall probably won’t have a major impact on Peloton’s business in the long run, but it certainly won’t help restore investor confidence. The share price of the beleaguered company down 6 percent next news of the recall.