Why did Peloton recall all treadmills?
FITNESS company Peloton will be recalling its treadmills as of May 5, 2021.
The announcement comes after weeks of discussions with the US Consumer Product Safety Commission.
Why did Peloton recall all treadmills?
Peloton will be recalling its treadmills after various reports of injuries from consumers.
The Consumer Product Safety Commission said it received 18 reports about the touchscreen loosening and six reports of the touchscreen detaching and falling from the Tread.
Additionally, one child died in an accident involving the machine.
At the time, Peloton pushed back on recalling the treadmills and urged consumers to keep pets and children away from the machinery while it was in use.
The company also recommended that users lock the machine with a key after each workout.
Now, Peloton is urging every treadmill owner to stop using the treadmill and contact the company for a full refund.
What did Peloton say about the treadmill recall?
Peloton CEO John Foley released a statement and apologized for not acting quicker to resolve the matter.
The statement read: "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+.
“We should have engaged more productively with them from the outset. For that, I apologize.
He continued: "Today’s announcement reflects our recognition that, by working closely with the CPSC, we can increase safety awareness for our Members.
"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.
Adding: “We have a desire and a responsibility to be an industry leader in product safety."
The recall affects about 125,000 Tread+ machines and about 1,050 Tread products in the US.
On November 5, 2021, it was reported that Peloton shares collapsed 35 percent.
The organization's annual sales forecast was subsequently slashed by a billion dollars according to CNBC.
Sales momentum is dropping for the brand as people return to reopening gyms following the pandemic.
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