Peloton Interactive has issued a project recall after one its pedals caused numerous leg injuries. The connected fitness company announced the move on its website, saying it’s acting in cooperation with the U.S. Consumer Product Safety Commission. Here’s everything you need to know:
What product is affected?
It’s called a PR70P clip-in pedal, and the company says it’s the first generation of pedals fitted on Peloton bikes. The recall is due to a “risk of axle breaks.”
What dates were these pedals sold?
The bikes were sold between July 2013 and May 2016. If you bought one between those dates and still have the original pedals, your bike could be affected.
How many bikes are affected?
About 27,000 bikes, or 54,000 pedals.
Have people actually been injured?
Yup. Peloton says it’s aware of at least 16 leg injuries, some serious enough to require stitches. In all, it says it’s received 120 reports of pedals breaking while people are using them.
What do these pedals look like?
You can see a picture here. The company points out that they have “Peloton” written in white lettering with the orange logo. If your pedals don’t have the orange logo, you’re probably fine.
I think I may have one of these problematic. What do I do?
Stop using the bike immediately and visit Peloton’s website for more information. The company has an online form where you can order replacements. Once you get your new pedals, you can use Peloton’s instructions for how to install them.
So I don’t have to return the whole bike?
No. Peloton says the pedals are designed to be installed by users. It says it also offers phone support, and it will send a technician to your house if need be, but that will cost you $100.
This is a bad for Peloton’s business, right?
The company’s stock was down about 4% today, but that was after a bump earlier in the week when Truist Securities raised its price target, as MarketWatch reported. Product recalls are not great, but they are a routine part of being in the hardware game. The bigger picture for Peloton, business wise, is that it has thrived during the pandemic. Its shares have more than quadrupled since the start of this year.
Where can I find the recall announcement?
The CSPC has all the info you need on its website. Find it here.