Peloton recalled its Tread+ and Tread treadmills on Wednesday and the company admitted it was wrong to fight the Consumer Product Safety Commission’s (CPSC) request after doing so.
About 125,000 treadmills are included in the recall. The CPSC said that there has been one child death and 70 other injuries tied to the treadmills. But when the federal safety agency issued a warning about the dangers last month, Peloton took the unusual step of refusing to recall them.
“I want to be clear, Peloton made a mistake in our initial response to the CPSC’s request,” said Peloton CEO John Foley. “We should have engaged more productively with them from the outset. For that, I apologize.”
Wednesday’s recall covers the $4,295 Tread+ as well as Peloton’s cheaper Tread, which costs $2,495. Peloton pulled both machines off its website.
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.”
Peloton 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.
Foley said Peloton will work with the CPSC to “set new industry safety standards for treadmills” because the company has a “desire and a responsibility to be an industry leader in product safety.”
Shares of Peloton fell 12% on the news — the lowest in seven months.
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