Peloton is recalling more than 2 million exercise bikes. Here's why

Peloton is recalling more than 2 million of its exercise bikes because the bike's seat post assembly can break during use, posing fall and injury hazards.

The recall includes approximately 2.2 million of the Peloton Bikes Model PL01. The bikes were sold from January 2018 through May 2023 for about $1,400. They were sold at Peloton and Dick's Sporting Goods stores nationwide and online at Amazon, Peloton and Dick's websites.

Peloton has received 35 reports of the seat post breaking and detaching from the bike during use, including 13 reports of injuries including a fractured wrist, lacerations and bruises due to falling from the bike.

Consumers are advised to immediately stop using the recalled exercise bikes and to contact Peloton for a free repair. Peloton is offering a free seat post that can be self-installed.

Peloton can be reached at 866-679-9129 from 6 a.m. to 12 a.m. ET, seven days a week or online at www.onepeloton.com. Consumers can click on Product Recalls at the bottom of the Peloton website page for information on how to request the free seat post and instructions for installation.

Peloton has been in the process of a corporate reorganization. In October the company announced it was cutting about 500 jobs. That announcement came after the company said in August that it would cut 784 jobs, close its North America distribution network and shift delivery work to third-party providers.

Peloton experienced incredible sales growth during the height of the coronavirus pandemic. The New York-based company's share price multiplied by more than five times in 2020 amid lockdowns that made its bikes and treadmills popular among customers who pay a monthly fee to participate in its interactive workouts.

But sales began to slow in 2021 as the distribution of vaccines drew many people out of their homes and back into gyms.

Shares of Peloton Interactive Inc. fell more than 6% in Thursday morning trading.

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