Peloton is readying a cheaper treadmill and a more premium version of its connected exercise bike, it’s reported, expanding its fitness range in the face of growing demand from those outfitting home gyms. The company has seen a boost in sales from exercise enthusiasts looking to replicate some of the guided workout experience while gyms are closed.
That can be a fairly expensive endeavor, however. Peloton currently offers an exercise bike called Bike, which is priced at $2,245, and a treadmill called Tread, which is $4,295. Both rely on a subscription to exercise classes, which are shown on their sizable displays.
Peloton could well double the size of their range soon, though, if a new report pans out. The company has a more affordable treadmill in mind, sources tell Bloomberg, which would be offered under $3,000 it’s suggested. Peloton Tread would be renamed Tread+ according to the insiders, giving up its current name for the new model, and remain on sale as a flagship version.
There’ll be some compromises in order to hit the lower price point, as you’d expect. Probably welcome is a reduction in size, with the more affordable Tread expected to be smaller and thus more apartment-friendly. However it will also apparently lose the slatted design that was such a selling point of the treadmill when it originally launched. In its place will be a more commonplace – and cheaper – belt design.
As for the bike, there Peloton is believed to be going in the opposite direction. The current Peloton Bike will remain on sale, but get a price cut to under $1,900, it’s claimed. Slotting in as a more premium version will be the new Peloton Bike+, which will be more than the existing model’s $2,245.
Specifications for the Bike+ are unclear at this point, though both it and the new Tread treadmill are expected to feature a redesigned display. That will apparently allow for more adjustment, so that it can be tilted around and used to guide owners through other types of workout. Peloton does currently offer those workout sessions as part of its subscription plans, but owners will typically use a tablet or smartphone with the company’s mobile app to take part in them.
Earlier reports suggested Peloton was also working on a new rowing machine, adding a third workout type to its range of equipment.
The new Peloton Bike+ and more affordable Peloton Tread could be announced as soon as next week, it’s suggested. Sales are expected to be staggered, however, with the Bike+ arriving first and then the entry-level Tread following.