Peloton expects it to be several months before either of its treadmills are relisted after a recall was issued on both models yesterday. One of the models posed a risk of “injury or death,” Peloton said.
The more expensive Tread Plus treadmill, which has been on sale since 2018, “could take months” to return to the market, Peloton CEO John Foley said on a call with investors this afternoon. Peloton must develop a hardware solution to prevent people, animals and objects from being sucked under the machine, and then have that solution approved by the US Consumer Product Safety Commission (CPSC). A six-year-old recently died after being pulled under a Tread Plus, the commission said.
The cheapest machine, the Tread, could go back on sale as early as July, Foley said. He said the approval time for a fix could be six to eight weeks. Attaching the tread will be easier, he said, as much of that involves modifying the screws and washers.
Peloton recalled the two treadmill models yesterday over fears they could injure owners or others nearby. The Tread Plus had the most serious problems, with over 70 recorded incidents of adults, children, pets, or objects being pulled under the treadmill.
The problems were less severe for the lower cost Tread model. The CPSC said there had been 18 incidents of the Tread’s touchscreen dropping and minor injuries in the UK and Canada, where it is primarily for sale. This model was only sold in limited numbers in the United States, but it was supposed to go on sale widely from May 27.
Foley told investors the company’s treadmills will come back with safety in mind, saying the company must be an “industry leader in safety.” He said the products the company repaired would be “one of the safest, if not the safest, treadmills in the world” and that “when we bring them back to market, we expect them to be. are by far the best and safest products on the market. some products. “
Platoon initially resisted the CPSC’s recall request. In a note yesterday, Foley said it was a mistake. “We should have engaged more productively with [the CPSC] early on, ”Foley wrote. “For that, I apologize.”