First up it was dodgy Peloton treadmills that were withdrawn from the market after a child was killed, now it’s Peloton’s high-tech bikes that are being recalled and news of the latest issue was revealed, it sent the company’s stock plunging by more than 8% overnight.

The struggling business that opened a store in the ritzy Martin Place in Sydney, to sell their overpriced bikes, is recalling more than two million of their exercise bikes over concerns that the seat assembly could break during use and injure customers.

Questions over the quality of Peloton bikes have been around for several years, now owners have been advised to immediately stop using the bikes and contact Peloton.

The recall was initiated by the US government’s Consumer Product Safety Commission after numerous reports of injuries including “a fractured wrist and lacerations” after the bike’s seat detached during use.

The affected bikes are models numbered PL-01.

“As part of our commitment to product safety, we are voluntarily recalling the seat post of affected units to provide a free replacement seat post,” the company said.

Peloton said members who purchased a bike in the UK, Germany and Australia are not impacted by the recall.

A basic Peloton bike starts at $2,450, and that’s just for the bike, users are then hit a monthly fee to get access to the Companies software.

In the past the US Company has been force to its treadmill model after a child died and more than 70 people reported injuries.

In another drama for the Company Mr Big, a fan-favourite character on the HBO series Sex and the City, died suddenly from a heart attack after riding a Peloton bike.

When this happened in 2021 during the height of COVID, the share price, fell more than 75%,

Later that year, Peloton CEO and co-founder John Foley resigned as the company struggled to turn business around as its pandemic popularity faded.