Peloton recalls 2 million exercise bikes over fall and injury risks.

Peloton, the popular fitness equipment company, has announced a recall of more than 2 million of its exercise bikes following reports of injuries and safety hazards. The company's action comes after the U.S. Consumer Product Safety Commission (CPSC) issued a warning about the dangers associated with the machines.




According to the CPSC, Peloton's Tread+ and Tread machines have been linked to at least 72 incidents, including one child's death. The agency has also received reports of injuries related to the company's exercise bikes, including cuts, bruises, and even broken bones.




Peloton has indicated that its decision to recall the bikes was made in cooperation with the CPSC. The company has urged customers to stop using the machines immediately and has advised them to contact Peloton for a full refund or other remedies.




The recall affects Peloton's Bike and Bike+ models, which have been sold in the U.S. and Canada since 2013. The company says that it will be working with customers to provide support and assistance throughout the recall process.




In a statement, Peloton CEO John Foley apologized for any harm or inconvenience caused by the issue. "The decision to recall both products was the right thing to do for Peloton's members and their families," he said. "I want to be clear, Peloton made a mistake in our initial response to the CPSC's request that we recall the Tread+. We should have engaged more productively with them from the outset."




The recall is a significant setback for Peloton, which has enjoyed rapid growth and success in recent years. The company has become a household name for its high-end exercise equipment and popular fitness classes, which are delivered through a digital platform.




Peloton has said that it expects to take a financial hit as a result of the recall, with costs estimated to be in the hundreds of millions of dollars. The company's stock price has also taken a hit, dropping by more than 14% in the wake of the announcement.




Despite the setback, Peloton has indicated that it remains committed to providing safe and effective exercise equipment to its customers. The company says that it will be working closely with regulators and industry experts to ensure that its products meet the highest standards of safety and quality.