New Peloton Products On The Way, Exercise Equipment Maker To Cut Price Of Current Bike

Peloton Interactive Inc. (PTON) is planning to announce two new products: a high-end exercise bike and a cheaper treadmill, sources told Bloomberg. The new releases may mean that the company will cut prices on its current high-end products.

The report details upcoming additions to the Peloton line, which includes a treadmill, called Tread, which will be priced below $3,000 — at least a 30% decrease from its current model. There is also a bike, called Bike Plus, that will likely be priced higher than the current $2,245 version.

The New York-based company is a manufacturer of premium fitness stationary machines that include a screen for online classes. Their equipment is designed to be used in conjunction with their $40-per-month subscription for classes. Peloton also offers a less expensive subscription for classes that do not use their machines.

The new treadmill will be smaller and uses a more conventional belt instead of a slat belt. Both of the new products will have a screen with a greater range of motion, intended to allow users to exercise around their machine if needed.

The new bike is expected to drop the price of its current model from $2,250 to below $1,900.

Peloton saw a surge in subscribers during the pandemic. The company has more designs in the works, including a rowing machine that is still in development.