The popular fitness company, Peloton, known for its well-liked stationary bike, announced Wednesday voluntary recalls of both its treadmill machines over safety concerns.
Wednesday’s recall covers the $4,295 Tread+ as well as Peloton’s cheaper Tread, which costs $2,495. That machine hasn’t yet been released in the United States. Peloton pulled both machines off its website Wednesday.
The reversal comes more than two weeks after a US agency issued an “urgent warning” for users of the machine. At the time, there were at least 39 accidents involving the treadmill, including “multiple reports of children becoming entrapped, pinned, and pulled under” the device.
In a statement, Peloton apologized for not acting more quickly to resolve the issue after reports of one death and dozens of injuries.
“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+,” CEO John Foley said in a statement Wednesday. “We should have engaged more productively with them from the outset. For that, I apologize.”
Peloton shares closed the day down nearly 15%, hitting a low not seen since September. That wiped about $4.1 billion from Peloton’s market value.
The Consumer Product Safety Commission (CPSC) sent a request weeks ago urging Peleton to issue a recall, but the company didn’t budge–at first.
The CPSC released a video showing a small child playing with a powered-on treadmill while it lifts off the ground and the child becomes pinned under it. The agency released details of other incidents, including a child being injured when an adult was using it and “pets and objects” also being sucked beneath the treadmill suggesting “possible harm to the user if the user loses balance as a result.”
According to CNBC, Peloton initially refuted the agency, saying at the time its warning was “inaccurate and misleading.” In a stark reversal, Foley admitted Wednesday that decision was a mistake.
The company is advising customers who already have either the Tread or Tread+ products to immediately stop using the equipment and contact Peloton for a full refund or other qualified remedies. It added that it is working on a repair that will be offered to treadmill owners in the coming weeks.
The recall affects about 125,000 Tread+ machines and roughly 1,050 Tread products in the U.S.
The CPSC said it has received 18 reports about the touchscreen loosening and six reports of the touchscreen detaching and falling from the Tread. The group had previously warned about Peloton’s Tread+ product last month, after one child died in an incident involving the machine. There were also dozens of other reported injuries.
Although this is the first time someone has died from one of their products, this isn’t the first time that Peleton has faced national backlash for something.
If you remember, a few months after its IPO, the company found itself on the defensive over its so-called “Peloton wife” ad, which