Peloton Interactive Inc. PTON-Q has recalled two million exercise bikes citing the possibility of the seat post breaking during use that could lead to injuries, the U.S. Consumer Product Safety Commission (CPSC) said on Thursday.
Shares of the company fell 7 per cent to US$6.90.
The recall piles on more pressure on Peloton, as the company deals with waning demand for its fitness equipment amid an uncertain economy.
The CPSC said Peloton has received 35 reports of the seat post breaking and detaching from the bike during use, including 13 reports of injuries due to falling from the bike.
This recall involves Peloton Bikes with model number PL01 sold from January, 2018, to May, 2023, in the United States and is one of the company’s flagship products.
The seat post can break unexpectedly during use, creating a potential fall and injury risk, Peloton said in a statement on its website. There is no impact to Peloton Bike+ Members nor Peloton original Bike owners in the U.K., Germany, and Australia, it added.