Peloton recalls all treadmills

Peloton is recalling all treadmills after one child died and numerous people were injured by the equipment.

CNBC’s Lauren Thomas reported:

Peloton announced Wednesday voluntary recalls of both its treadmill machines over safety concerns.

The announcement marked a major reversal of Peloton’s initial reaction and comes after weeks of discussions with the U.S. Consumer Product Safety Commission.

Kate Gibson from CBS News wrote:

“The decision to recall both products was the right thing to do for Peloton’s members and their families. I want to be clear, Peloton made a mistake in our initial response,” Foley said in a statement. “We believe strongly in the future of at-home connected fitness and are committed to work with the CPSC to set new industry safety standards for treadmills.”

Lauren Goode from Wired noted:

Before Peloton’s safety hazards were made known to the public in March, the company had been considered one of the home-fitness success stories of the pandemic. The company’s sales surged in 2020, despite the notoriously long wait times for deliveries of newly ordered exercise bikes and treadmills. Peloton claims more than 1.7 million members have either bought into the company’s pricey home equipment, paying a monthly fee of $39 for access to video classes, or pay $12 per month for mobile-only access to fitness classes. But shares of publicly-traded Peloton stock sank after the joint recalls were announced this morning.